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Transnational Flow of Human Capital and Economic Growth of China:from a Perspective of FDI

LI Xing HOU Ke-qiang Man-Wah Luke Chan  
As an important ingredient of foreign direct investment(FDI),transnational flow of human capital is of obvious importance to host countries,es-pecially emerging economies,such as China.This paper first extends Boensztein,Gregorio and Lee(1998) ’s model by introducing differentiated human capital into domestic firms’ normal operation.This paper’s model suggests that trans-national human capital has a positive impact on host country’s economic activi-ties.It then uses SYS-GMM approach to examine our theoretical predictions in the context of regional panel from China over the period 1992-2007.By control-ling for various variables,including education,demographic profiles and infrastruc-ture,it finds transnational flow of human capital has a positive,significant and quantitatively large effect on China’s economic growth.
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