The Effect Of Human Capital On TFP

In the background of economic slowdown,China's economy need to navigate a structural change from labor-drived economic growth to technology-drived economic growth.It is crucial for China to achieve economic sustainable growth.First this article estimates total factor productivity of Chinese listed manufacturing companies during 2008 to 2015 using different methods including OP and LP methods.Then th estimating the human capital of Chinese manufacturing listed companies according to amount of workers with different level of education,and this article analyzes TFP's and H's dynamic change and compares different characteristics of subdivided industries,high-tech industry and non high-tech industry,state-owned and non-State enterprise's TFP and H.Then this article discusses the role and influence of human capital,RD and spillover of human capital on TFP of manufacturing listed companies in the control of SOE,technological level and average age of enterprises.According to classification of manufacturing high-tech industry by State Statistics Burea,this article classified subdivided industries into high-tech industries and non high-tech industries,and analyzes different effect of human capital and spillover of human capital on TFP.By setting structure of ownership as one of the control variables,this acticle analyzes the effect of SOE on TFP.In the end of this article,In order to achieve economic sustainable growth this article discusses the way to improve total factor productivity.