Analysis Of Effects From Public Cultural Investment To Economic Growth In China

The 21st century is the era of knowledge economy and era of human capital accumulation and revelation. Sustainable economic development won't depend only on the material capital enhancement in the future. It must take the human capital investment as the guidance. These years, human capital'important role played in the regional economic growth has got fully confirmed in theory and practice. Public cultural service is an important way in public service to improve the quality of human capital by meeting men's spiritual and cultural needs and optimizing human living environment. It is closely linked with human development. So what are the relationships between public culture and human capital? What aspects can it improve human capital quality? How does it effect on the development of economy through human capital? These questions have both theoretical and practical significance. As public cultural service is developing from the fringes of society towards the center gradually, answering these questions is more and more urgent. In this background, the article taking financial investment as the breakthrough point, researched the function to the economic growth in both theoretical and practical aspects. On the basis of answering the above questions, the article put forward a series of constructive opinions and suggestions with the reality of our CountryFirstly, according to the connotation of public culture and public investment, this article defined the concept of public cultural investment and analyzed the properties, characteristics and principles. Then the article mainly analyzed how public culture investment plays a part in the economic growth. There are three theoretical bases to analyze this function-Human capital theory, New economic growth theory and Leisure economic theory widely developed in recent years. On the basis, this article analyzed the mechanism from the theoretical and empirical aspects. By theoretical analysis, the article analyzed the problem from aspects of improving labor productivity, boosting the development of relative industries, promote the upgrading of the industrial structure and optimizing production and life environment. By empirical analysis, taking the time series data of public culture financial investment and GDP from 1985 to 2009 as a basis, the article made regression analysis by statistical software, estimated the contribution level, thereby obtained the quantity relationship between them. Finally, based on the above conclusion, the article analyzed how to improve the contribution of public cultural investment to economic growth, and proposed five strategies and corresponding countermeasures. The five main strategies are increasing investment amount, adjusting the regional structure, reforming the existing investment mechanisms, expanding investment sources and perfect capital management system.