Research On The Balance Of Financial Investment In Higher Education In The Eastern Regio

The equitable development of higher education among regions is an important means and way to achieve common prosperity,and financial investment is the biggest guarantee for this development.The eastern region has a exemplary and leading role in the country,and some studies have pointed out that the imbalance in financial investment in higher education in the eastern region is serious.This study focuses on the balance of financial investment in higher education in the eastern region,taking local higher education as the research object,with a view to providing thinking and suggestions for narrowing the gap in financial investment in higher education within the region,and promoting the development of local higher education that serves the goal of common prosperity.This study first explains the concept of "equilibrium" and defines "financial investment in higher education",then sorts out the theories related to the equalization of financial investment in higher education.Secondly,this study introduces and explains the financial investment status of local higher education in the eastern region from 2006 to 2019,and finds that there are serious differences in financial investment in local higher education in the eastern region.Thirdly,this study uses the economic convergence analysis method to deeply explore the difference of financial investment in local higher education in the eastern region.The σ convergence result based on standard deviation shows that the absolute difference in financial investment in local higher education in the eastern provinces is widening;the result of absolute βconvergence shows that there is absolute investment convergence in local higher education between provinces in the eastern region and the degree of convergence shows an increasing trend,but its convergence level lags behind the national level.This study also discusses the balanced process of financial investment in local higher education in the eastern region from the perspective of individual provinces.In order to explore how to promote the equalization of financial investment in higher education in the eastern region,this study selects five factors,namely,local financial revenue,central financial subsidy revenue,local fiscal decentralization,urbanization level and local government competitiveness,as independent variables,and takes the per capita budget of local higher education as dependent variables,respectively,to establish a OLS regression model and a conditional convergence model for testing.The results of the two tests are compared and analyzed.The results are as follows:(1)In the OLS regression,local financial revenue,local fiscal decentralization,urbanization level,and local government competitiveness have a significant positive effect on promoting the growth of financial investment in higher education,while central financial subsidy revenue has a positive but not significant effect;(2)In the conditional convergence analysis,the local financial revenue and urbanization level have a significant positive effect on promoting the balance of financial input in higher education,while the local fiscal decentralization and local government competitiveness have a positive but not significant effect on promoting the balance of financial input,and the central financial subsidy revenue presents a non-significant negative effect;(3)In the two tests,the local financial revenue and the urbanization level show a significant positive effect,while the central financial subsidy revenue does not show a significant effect.The local fiscal decentralization and local government competitiveness have a significant positive effect on promoting the growth of financial investment,but the role in promoting the balance of financial investment is not significant.Based on the results of the comparative analysis,this study believes that the role of central financial subsidies,local fiscal decentralization and local competition in promoting investment equalization should be further played on the basis of maintaining local financial support.Finally,based on the analysis results,this study proposes three research recommendations: increasing local financial investment in higher education,improving financial investment standards and supervision mechanisms for higher education,and strengthening central financial subsidies for local higher education.