| Laos, a country in transition with smaller economies in the northern of Southeast Asia, sets a goal of the development of future economic and social in "",that is:GDP in2010is four times in2000,Laos will be out of the ranks of the least developed countries on the earth in2020.In the period of ",the average rate of GDP grows more than7.5%to8.0%; Including agriculture and forestry are3.34%, industry is13%to14%, services is7.5%to8%, economic structure is further optimized, the proportion of agriculture and forestry are36%, industry is36.4%, services is27.6%.Making it sure that the average export rate grows18.1%,population growth rate keeps1.2%as before, the GDP per capita will be$1,087in2010and more than$4,000in2020.In order to achieve these goals successfully and the Lao government wants to promote the country development, the government has taken measures that is setting several special economic zones to promote the development of economic. Developping education is essential to develop human resources in the country.The government emphasis on financial education investment policy.This article focuses on the research of investment in education and the development of economic in Laos. From the concept of investment in education and the relationship between investment in education and economic growth, then we show the status of investment in education by the use of a large number of statistical data, compared with the ASEAN group; Moreover, the use of statistics, community testing for Granger, Cointegration and other computational analysis methods, cluster analysis of modern statistical analysis the relationship between investment in education and the economic development. We research the benefit of the investment in education to promote the development of economic and social, and give advice to the policy of improving the quality of education in Lao.The results show that①Cointegration relationship is proved corret. This shows that it is long-term equilibrium between investment in education and economic growth, it means that investment in education can promote the development of economic, the relationship between them is a long-term stable with a common stochastic trend.②In Laos, there is a clear two-way cause relationship between educational investment and economic growth, that is change in GDP cause the change in investment in education, while change in investment in education cause the change in GDP.③The regression coefficient of variables is0.356,it indicates that⊿log(EDU) increase a unit,⊿log(EDU) corresponding increase0.356units.It also show that educational investment make economic grows14.24%from1991to2010.④It can be found that there is a strong correlation between investment in education and economic growth, investment in education is indeed one of the forces driving economic growth, and this impetus will be last a long period, the human resources caused by the investment in education make long-lasting economic benefits.⑤Laos education investment to economic growth, the contribution rate of analysis:through the analysis we can know Laos education investment contribution rate (or contribution share) is61.86%, education investment contribution (or contribution level) is13.44%. So this in a way that the Lao education investment to economic growth contribution than with other countries or lower level.⑥the ratio of public spending on education in GDP in countries of ASEAN group. Malaysia is the highest of them and reaching5.5%,Thailand is4.8%,Philippines is4%. Laos, despite great efforts to improve the ratio of education budget(equivalent to public spending on education in ASEAN)in GDP and reaching3.48%in2010,the ratio is relatively low in ASEAN... |
PDF Full Text Request