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本文将人力资本投资阶段划分为0~5岁婴幼儿阶段、6~16岁初次人力资本投资、17~24岁青年期不定阶段、25~45岁追加人力资本投资阶段、46~60(55)岁后期人力资本投资阶段、60(55)岁以上退休阶段,对2~4阶段的人力资本投资额进行估算,并使用存在外生变量的二阶滞后VAR模型分析各阶段人力资本投资之间、外在因素对各阶段人力资本投资额的影响。分析结果表明,老龄化对各阶段人力资本投资均存在正影响,后期人力资本投资对初次人力资本投资、初次人力资本投资对不定阶段具有滞后的积极效应,追加人力资本投资对不定阶段人力资本投资具有滞后消极影响。据此,本文提出了部分促进人力资本投资的政策建议。
This paper divides the stage of human capital investment into 0 ~ 5 years old infants stage, 6 ~ 16 years initial human capital investment, 17 ~ 24 years old adolescent uncertain stage, 25 ~ 45 years additional human capital investment stage, 46 ~ 60 (55) In the stage of human capital investment in the latter part of the year, the investment in human capital in stage 2 ~ 4 is estimated in the retirement period of 60 (55) or above. The second-order lag VAR model with exogenous variables is used to analyze the relationship between the human capital investment in each stage, The Impact of External Factors on Human Capital Investment in Various Stages. The analysis shows that the aging has a positive impact on the investment of human capital in all phases. The latter has a lagged positive effect on the indefinite phase of the indecisive phase of the initial human capital investment. The addition of the human capital investment to the indefinite phase of the human capital investment Has a negative impact on latency. Accordingly, this paper puts forward some policy recommendations to promote human capital investment.