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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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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 November 2021

Human capital, economic growth, and inequality in China

Human capital, economic growth, and inequality in China

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

James J. Heckman

Junjian Yi

Oxford University Press

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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