Research On The Influencing Factors Of Returns To Education

With the diversification and individualization of today’s era,the public society pays more and more attention to education,and education plays a crucial role in a country.It goes without saying that the most crucial basis for a country’s comprehensive strength is its level of education.Since the reform and opening up,the rapid development of China’s education scale is obvious to all,and China’s overall income has also been leapfrogging improved.The development of education and the growth of national income are complementary each other.Our country has also been attaching importance to the development of education,linking it with economic and social development,so that they can establish a mutually benefical and indispensable relationship.Accordingly,we can learn the role of talent in today’s society is more and more critical.China made a vote on education at the 28 th meeting of the 13 th Standing Committee of the National People’s Congress held on April 29,2021,and decided to amend the Education Law to emphasize the importance of education: our country is in the stage of socialist modernization construction,the foundation of construction is education.Education is of paramount and decisive significance to promoting the all-round development of citizens,improving the comprehensive quality of all citizens of our country,and enhancing the vitality of creativity and innovation in our country.The state should give priority to guaranteeing the development of education.The research on returns to education of China is helpful to fully grasp the problems existing in Chinese education.Therefore,it is of great practical significance to study the influence of returns to education for the development of social economy and education.In this dissertation,a new method of measuring and perspective are used to conduct quantitative analysis when studying returns to education in China,which can provide relevant theoretical basis for rationally allocating educational resources and standardizing this phenomenon,and expand the existing research results.Finally,some suggestions are put forward in order to perfectly combine the demand supplies of educational talents with the demand of economic and social development,rationally allocate educational resources and realize the harmonious development of China’s education,economy and society.In this dissertation,based on the data of China Family Tracking Survey（CFPS）in2018,an empirical study is made on the influencing factors of China’s returns to education by building the Hierarchical Linear Model（HLM）model.This dissertation selects the average years of education,literacy rate,the proportion of people with a university or above and the frequency of online learning as educational indicators,selects the average income of university and above population as income index,selects the proportion of male population,the proportion of non-agricultural population and the proportion of netizens as demographic characteristics indicators,and selects the employment ratio of organizations and institutions,the employment ratio of state-owned enterprises,the participation rate of basic old-age insurance,the participation rate of basic old-age insurance,the working frequency of using the Internet and the signing rate of contracts as characteristic indicators of the labor market.The purpose is to study the present situation of returns to education in China,and to analyze the returns to education.According to the research,there are significant differences in the average returns to education in different regions of China.There is a long-term and balanced relationship between the scale of education and income in China.There are also differences in the influence of educational indicators,income indicators,demographic indicators and labor market indicators on the average returns to education,and different indicators have different influences on returns to education.According to the conclusion,some suggestions are put forward from three aspects: attaching importance to education,improving labor market and improving regional differences.