The Contribution of Human Capital towards Economic Growth in China

This book develops a human capital model to explain transformational growth within different stages of economic development, which will induce technological changes and consequently will require a change in human capital. China is a case study in transition and can provide useful lessons to other emerging economies. Economies move through different stages of development from labour-intensive to capital-intensive and then move through various stages of different product cycles. Countries may move concurrently through different cycles, the capital-goods import-export cycle, the capital-labour intensive product cycle and the cycle of human capital transformation. Joshua develops a human capital model to explain transformational growth within different stages of economic development. This will induce technological changes and consequently will require a change in human capital. This study therefore explores the relationship between the transformation of human capital, technological change and stages of economic development. Transformational growth implies qualitative changes through the reallocation of resources, including human capital and thereby may induce cycles of innovative development so that human capital and new technology are complementary to each other. This book provides a systematic study of the contribution of primary, secondary, tertiary and vocational education towards economic growth during different stages of economic development in China Front Matter....Pages i-xiv Introduction....Pages 1-9 Neoclassical and Endogenous Growth Models....Pages 10-25 The Accumulation of Human Capital as a Factor of Production....Pages 26-50 Pathways of Human Capital towards Economic Growth....Pages 51-72 Human Capital Transformation and Cycles of Innovations....Pages 73-109 Stages of Economic Development and Convergence and the Changing Demand for Human Capital....Pages 110-130 Human Capital, Income Distribution and Economic Growth....Pages 131-154 An Economic Profile of China....Pages 155-175 Transformational Growth and Human Capital Transformation in China....Pages 176-190 Convergence and Divergence between China’s Provinces....Pages 191-208 Review of Empirical Studies on China....Pages 209-220 New Evidence on the Contributions of Human Capital to Chinese Provincial Economic Performance....Pages 221-247 Conclusion....Pages 248-256 Back Matter....Pages 257-301