【精选】§2.1人力资本、实物资本与中美两国的产出差别§2.1人力资本、实物资本与中美两国的产出差别.pdf

—— 1981—2005 52 1981—2005 52 0.456Mankiw 1992 10 17 GDP Human Capital, Physical Capital and Country Output Variations between China and United States: an Empirical Test of Human Capital Model Using Panel Data from 52 Countries in the Year 1981-2005 ZHANG Yan (Peking University, 100871) XU Yunxiao (Peking University, 100871) WANG Zhiqiang (Peking University, 100871) Abstract: This paper is the first attempt to study the output variation between China and the United States from the perspective of human capital. Based from the human capital model, using the macroeconomic panel data of 52 countries during the year 1981-2005, through the ordinary least square method, this study evaluates that the proportion of human capital in the elasticity of saving rate to the output is about 0.456, which could not only be viewed as an extensional research of American economists Mankiw (1992), but also a new comprehensive and scientific evaluation. This paper finds that, in the human capital model, the 2.5 times differences of Sino-US saving rate could explain about the 10 times differences of output per capita, and the increase of saving rate of human capital could significantly improve the output per capita. In the model which only contains physical capital, however, the same Sino-US saving rate of physical capital 1 could only result in the same outp