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| Human Capital and Economic Growth-A Discussion about Poverty Trap of Economic Growth |
| CUI Jun-fu LIU Rui MIAO Jian-jun |
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Abstract Human capital is a source of economic growth, and inadequate human capital will undermine long-term economic growth. This paper constructs a human capital economic growth model to indicate the important role that human capital plays in economic growth and gives a poverty trap hypothesis of economic growth resulting from human capital deficiency. This paper also examines China's human capital and physical capital growth from 1978 to 2004, and finds that human capital accumulation is highly deficient comparing to the rapid growth of physical capital. The ratio of human capital stock to physical capital stock declines year after year, which will certainly affect the long-term economic growth. It is urgent to increase investment in human capital.
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Received: 26 June 2009
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Corresponding Authors:
CUI Jun-fu
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2009, Vol. 1 
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