An Empirical Study of Economic Growth, Human Capital and Financial Development in Qingdao City
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Human capital and finance can boost economic growth, and this paper performs an empirical test of economic growth, human capital and financial level, and finds that there is a long-term stable dynamic equilibrium relationship between the three. Results show that the finance and human capital in Qingdao City go through six stages ("imbalance—on the verge of imbalance—narrow coordination—primary coordination—intermediate coordination—well coordination"), and during the coordination process, human capital significantly lags behind. Therefore, it is necessary to increase human capital, accelerate the coordination between finance and human capital, and further promote the development of economic level.