本文通过对全球外商直接投资现状特征的分析,提出卢卡斯悖论现象的存在,在此基础上提出卢卡斯悖论人力资本理论,并且利用中国和印度人均人力资本量和人均外商直接投资量论证了卢卡斯悖论存在的原因,认为人力资本在吸引外商直接投资方面具有重要的地位,在其他因素假定一致的条件下,人力资本是外商直接投资区位选择的重要考虑因素。中国和印度相比,尽管中国是制造业大国,但是制造业的人均外商直接投资并没有高于印度。印度制造业总的外商直接投资没有中国高,但是计算机软硬件业的外商直接投资流入量却高于中国,这正说明印度的人力资本高于中国。因此卢卡斯悖论人力资本假说得以印证。 Based on the analysis of the status quo of FDI in the world, this paper puts forward the existence of Lucas paradox phenomenon. On this basis, it puts forward the Lucas Paradox theory of human capital and makes use of the per capita human capital in China and India and per capita foreign direct investment This paper argues the reason for the existence of Lucas's paradox and argues that human capital plays an important role in attracting foreign direct investment. Human capital is an important consideration for the location choice of foreign direct investment under the assumption of other factors. Compared with India, although China is a manufacturing power, the per capita FDI in manufacturing industry is not higher than that in India. The total foreign direct investment in manufacturing in India is lower than that in China, but FDI inflow to the computer hardware and software industry is higher than that of China. This shows that India's human capital is higher than that of China. Therefore, Lucas Paradox Human Capital hypothesis can be confirmed.