户籍制度扩大了城乡家庭人力资本投资水平、存量及其收益率的差异，使得我国居民的城乡收入差距有所扩大。同时，户籍制度对经济增长的影响表现出阶段性特征：在经济增长的起飞阶段，物质资本的推动作用更为明显，户籍制度能够提高城镇地区物质资本积累规模，进而促进经济增长；当经济发展到一定阶段后，人力资本成为经济增长的引擎，户籍制度弱化了农村人力资本投资和积累水平，并不利于农村消费市场的发展，降低了经济增长速度和质量。% The household registration system expands the difference in the level, stock and rewards of investment in human cap⁃ital in the urban and rural families. It also makes the Chinese urban-rural income gap expand. At the same time, the impact of the household registration system on economic growth shows stage characteristics. In the take-off stage of economic growth, physical capital plays the more obvious role in economic growth, and thereby the household registration system promotes eco⁃nomic growth because it improve the size of the accumulation of physical capital in the urban areas. However, when economy de⁃velops in some stage, human capital has become the engine of economic growth. And the household registration system reduces the speed and quality of economic growth. Because it weakens the level of investment and the accumulation of human capital in rural areas. Furthermore, it is not conducive to the development of the rural consumer market, and it depresses the speed and quality of economic growth.
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