Research on the influence of human capital on economic growth

Abstract

Economic growth has always been an economic phenomenon expected by the public, and it is also a hot topic studied by a wide range of scholars. So far, there have been a lot of domestic and foreign research literature on the phenomenon of economic growth, and it goes without saying why economic growth has always been such a hot topic. The purpose of this paper is to study the impact of human capital on economic growth by analyzing the data samples of China's 31 provinces (excluding Hong Kong, Macao and Taiwan) from 2009 to 2018 in the National Bureau of statistics and the China Statistical Yearbook. The main result of the analysis is that although educational human capital has a positive impact on China's real GDP growth, the correlation is not very significant. As for the health capital in human capital, the research shows that the relationship between health capital and economic growth is not significant. Overall, this study shows that China should reduce its dependence on physical capital investment, so as to improve the return on human capital investment and find a new path for economic growth, which can also help the economy avoid the middle-income trap.