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The Oxford Companion to the Economics of China$
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Shenggen Fan, Ravi Kanbur, Shang-Jin Wei, and Xiaobo Zhang

Print publication date: 2014

Print ISBN-13: 9780199678204

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780199678204.001.0001

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Human capital, economic growth, and inequality in China

Human capital, economic growth, and inequality in China

Chapter:
(p.459) 76 Human capital, economic growth, and inequality in China
Source:
The Oxford Companion to the Economics of China
Author(s):

James J. Heckman

Junjian Yi

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199678204.003.0077

This chapter discusses the rapid economic growth initiated by the complementarity between a solid base of labour with a medium level of skill and a huge inflow of foreign direct investment. It explains how this was sustained by rapid physical capital accumulation and rapid human capital formation. It then calls on the Chinese government to enhance public expenditure on education and to equalize educational opportunities between coastal and inland areas, and between urban and rural areas. It should enhance the quality of education and foster a highly-skilled labour force, remove inefficient institutional barriers, and develop an integrated and efficient labour market.

Keywords:   economic policy, economic development, Chinese economy, skilled labour, labour force, foreign indirect investment, education policy

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