China's Human Capital and Its Contribution to Economic Growth

Based on discuss the measurement method of human capital,this article estimate China's human capital stock from 1980 to 2006 by the perpetual inventory method,and by establishing autoregressive distributed lag model,we make the empirical research of hu-man capital sotck's contributes in China's economic growth.The results show that: second only to physical capital,human capital become the second largest driving force in China's economic growth.The further analysis of empirical results shows,the input-output efficiency of human capital is much higher than physical capital,and investment in human capital has a lag effect.