HIGHER EDUCATION, EMPLOYMENT, WAGE AND ECONOMIC GROWTH IN CHINA

The rapid economic growth of China since the beginning of the economic reforms in 1978 has captured the imagination of the world. Along with the rapid economic growth, China's society and economy changed a lot, for example, higher education system, the emerging and development of labor market, the increase of individual income levels and living standards, the expanding of the physical capital stock and human capital stock. In this paper the author wants to find out the relationships among economic growth, higher education, employment and wage in China based on the dataset from 1978 to 2007, using empirical analysis methods such as correlation analysis, regression analysis, vector autoregressive (VAR) model and Granger causality analysis.