关键词: 教育产出结构, 技术进步, 经济增长

Abstract: This paper is based on the classical Cobb-Douglas production function, taking into consideration the effect of different types of education system on the effective supply of human capital, and lays emphasis on the impacts of the educational output structure (including general higher education and vocational education), technological progress and resource allocation between productive capital and technology funding inputs to economic growth. The empirical analysis draws a conclusion as follows: the two types of human capital investment, tertiary education and vocational education, have significantly different impact on economic growth. In China, due to the relative surplus of human capital supply and insufficiency of the input in vocational education, the increase of occupational human capital supply can hardly promote economic growth. In contrast, technological progress plays a tremendous role in China’s growth and enhances the influence of quality talents in this process. The development of tertiary education has positive effects on China’s technological progress and economic growth, but these effects are too weak to offset negative impacts of the change of human capital. In sum, from the perspective of long-run economic growth, with the development of tertiary education, vocational education is necessary and requires Chinese government to input more.

Key words: Structure of Educational Output, Technological Progress, Economic Growth