| As we all know,the economic development of a country affects its development speed,social civilization and people's living standards.Therefore,every country tries to develop its economy,and how to promote economic growth has become a problem that must be solved in the future development of a country.Since the reform and opening up,China's economy has maintained a high-speed development.In recent years,China's growth rate has also slowed down,and it is facing the problems of the decline in GDP growth and the excessive gap in national income distribution.In this context,the adjustment and upgrading of economic structure is imminent.In the past,economic growth depended on the input of material capital.Nowadays,human capital plays a more and more significant role in economic growth,which attracts more and more economists' attention and plays an important role in economic development.Although China is the most populous country in the world,the quality of human capital is relatively low,resulting in the low average level of human capital in China.The research shows that education investment is an effective way to improve the stock of human capital.Over the years,Chinese scholars have done a lot of research work on education investment,but the research results are fragmentary and lack of systematicness and integrity.Therefore,this paper uses China's economic data of2002-2016 to construct panel data regression model to measure the contribution rate of education investment to the growth of human capital in various regions and provinces.After that,by comparing the statistical data of different provinces and cities,this paper explores the different effects of education investment on human capital growth in different regions.Therefore,the relationship among human capital stock,education investment and total population constitutes the focus of this paper.This paper will use econometrics to analyze the relationship between human capital and education investment in China.The overall structure is divided into the following three parts.First,this paper summarizes the research results and conclusions of domestic and foreign scholars on human capital,and points out that education is an important factor to promote the growth of human capital.Second,after summarizing and comparing various methods of measuring human capital,this paper chooses the method of years of education as the measurement method.Then,this paper uses Madison's concept of "equal years of primary education" to establish a statistical model of human capital stock,and measures the average human capital stock of all provinces and cities in China.Combined with China's national conditions,this paper compares and analyzes the differences of the average human capital stock in different provinces and regions and the causes.Third,in this paper,Cobb Douglas function is modified to get the function of human capital and education input.Among them,education investment is divided into two parts,financial education investment and non-financial education investment.Financial education investment includes three levels: primary,secondary and higher education investment.Because the data of non-financial education investment is difficult to obtain,the consumption expenditure of residents is used as a substitute.Then,this paper constructs panel data regression model to empirically analyze the relationship between human capital and education investment,and studies the influence of the latter on the former.The following conclusions can be obtained by analyzing the research results.First,there is no significant correlation between primary education investment and human capital in different regions of China.Second,the impact of secondary education investment on underdeveloped areas is greater than that on developed areas.Third,the impact of higher education investment on developed areas is greater than that on underdeveloped areas.Fourth,there is a significant positive correlation between consumer spending and human capital,which reflects the important value and great potential of non-financial education investment in the future development.In the research process,this paper has two innovations.First,because of the special structure of the education mode of our country,the household registration system of college entrance examination,this paper breaks through the traditional regional division mode.In addition to the geographical location of the East,the middle and the west,it also implements a new grouping mode for each province through the types of college entrance examination papers.Because of the different educational resources in different provinces,the development of education will generally promote the speed of economic development,so the different types of college entrance examination papers represent different levels of regional economy.The traditional division of the Middle East,the Middle East and the west can also represent three regions with different economic levels.Therefore,the data from the two grouping methods can support and complement each other,making the conclusion more rigorous.Second,there are two parts of education investment,financial education investment and non-financial education investment.In the past,the research only focused on the total amount of education investment,or only considered financial education investment,or only considered non-financial education investment,which resulted in a partial and incomplete analysis.In this paper,a new regression model of panel data is designed,which takes the form of education investment into account.In this model,financial education investment and non-financial education investment become explanatory variables.We use this model to analyze the stock of human capital.We can directly compare the contribution rate of different forms of education investment,get more intuitive feelings,and have certain guiding significance for the formulation of economic policies. |
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