| The theory of economic growth and the history of world development show that human capital is the important factor of economy, Human capital investment is one source of a country’s long-term economic growth. But in the economic development of our country, there are current situations of high resource consumption, low labor productivity, low quality of economic operation, getting "the law of increasing returns" of the human capital difficult to make full use.this has become a major bottleneck in the development of Chinese economy, According to this, this article has researched the role of human capital on the economic growth of China from the empirical perspective.This paper firstly summarizes the important theories and models with the human capital and economic growth of domestic and foreign,then using the formation method to estimate the stock of human capital of1952-2008, based on the aggregate production function, Using the unit root test, cointegration test, Grainger Granger causality, error correction model of econometric theory to make empirical study, to discuss the long-run equilibrium relationships and the Interaction between human-capital and economic growth.Finally, this paper draws a conclusion:explanatory power of Dominant human capital for economic growth is not strong, recessive human capital plays a critical and decisive role in the value added process, education investment for the economic growth has not produce corresponding effect, So we should increase the investment in Education, Similarly, the health investment also has not produced the corresponding effect on economic growth. The human capital calculated by the average education method cannot explain the economic growth, this is because the education methods do not reflect differences in the quality of education, so it has caused measurement error. Finally, in view of the above problems, this paper puts forward the human capital development strategy for promoting the economic growth, as the countermeasure to raising human capital. |
