Human Capital Investment And Economic Development In Shenzhen

Human capital is the most important resource in 21 century. It is pointed in"Human Resource Development Report of 1996"by development plan department of United Nation that three quarters of GDP in a nation relies on human resource, whereas the left one quarter relies on capital. Human capital has been the most important determinant sector in comprehensive national power.During the 20 years of reforming and open-up, with the policy advantage in intellectual introduction Shenzhen becomes the most successful economic zone in China, with the average development speed of 27.24% Shenzhen becomes the forth-large modern city in GDP from a frontier town in China. Having entered 21 century, by entering WTO, with the rapid growth of Shenzhen city district and other eastern cities, and the total development in western China, the policy advantage in Shenzhen disappeared rapidly. The intellectual introduction policies weakened gradually. The sayings such as"window","experiment field"and"heading soldier"also become nonsense.The author calculated and analyzed the condition and problems of human capital in Shenzhen by introducing the human capital measurement theory, then proposed rationalized policy suggestion.The part of empirical analysis is composite of two parts: the first Part tests the co integration relationship and Granger Causality relationship; the second part 1 chooses efficiency work model and human capital outside model measure the contribution of human capitol investment. The result shows:(l)There is co integration relationship between them,education investment is the cause of economic growth,but economic growth is not the cause of education investment.(2)In2000 to 2007,the rapid economies growth is mainly caused by capital investment,the contribution of human capital investment is obviously low, but the human the effect of enhancing economy of capital investment is greater than capital investment.so on one hand,education investment is meaningful to economy,and on the other hand much more economies growth is invest to capital,not to education,we should increase the education investment.