Research on the impact of human capital on economic growth in China 's provinces based on panel data model

Yan Dai; Shuchang Zhou

doi:10.54097/c41q3g67

Authors

Yan Dai
Shuchang Zhou

DOI:

https://doi.org/10.54097/c41q3g67

Keywords:

Human Capital, Economic Growth, Panel Data, Individual Time Point Double Fixed Effect Model.

Abstract

Because human capital can promote economic development, promote social progress and achieve sustainable development, it plays an important role in Chinese modernization. Therefore, it is of great significance to study the impact of human capital on economic growth. This paper first constructs the index system, and uses the Topsis entropy weight method to comprehensively score the indicators ; then, a 25-year panel data model of 31 provinces ( cities ) in China from 1997 to 2021 is established. Through F test, Breusch-Pagan test and Hausman test, a variety of panel data models are selected. It is found that the individual time point double fixed effect model has a good regression fitting effect on the relevant data. Therefore, this model is selected to analyze the impact of education human capital and health human capital on economic growth, and it is found that both education human capital and health human capital have a significant role in promoting economic growth, but the role of education human capital is more obvious. When education human capital changes 1 unit, China 's economic growth will change 0.105 units. When health human capital changes 1 unit, China 's economic growth will change 0.09 units.

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