The result suggests that the benefit of capital accumulation in China is rather limited, and improving the benefit of human capital is crucial to the future economic growth in the country.

• 结果表明，我国物质资本积累效益存在明显下滑趋势，人力资本积累效益则不断提高，加快人力资本的积累是未来经济持续增长的重要保证。