An Empirical Study Of The Influence Of Human Capital And R&D On Economic Growth

This paper use the method of the theoretical and empirical analysis, basing on endogenous economic growth theory, human capital and technological progress as the endogenous variables of economic growth, validates the impact of human capital and R&D on economic growth. This paper summarize domestic and international papers on human capital and R&D on economic growth, including related theoretical research and empirical studies. And then analyze the impact of human capital and R&D on economic growth based on different levels of economic development countries or regions (Western developed countries and developing countries). In succession, this paper use an extension of the O'Brien-Douglas production function to construct a mathematical model and use the related panel data of China's eastern coastal and inland provinces and cities and analyse the regression results.This paper regards that the output contribution rate of human capital and R&D is great in developed Western countries, while developing countries, human capital and R&D did not play its due role.The result of empirical study shows that in different economic development stages, the impact of human capital and R&D on output are different. On the developing countries, the contribution of human capital and R&D on output is small. Considering China's regional development is uneven, it will be dividebed into the two samples of the eastern coastal and inland region by China's geographical and economic development level. On two samples, both the contribution rates of R&D on output are very small. But the more developed eastern coastal provinces and cities, the contribution rates of human capital on the output is significantly, and is replaceable on the physical capital, to a certain extent, also increased the output flexibility of labour.