Education Investment Structure,Industrial Structure And The Quality Of Economic Growth

Education is one of the important ways to invest in human capital,but also an important way to improve the capacity for scientific research and technical level of the whole society,which makes education investment become an important factor affecting economic growth and growth quality.After the reform and opening up,with the improvement of China,education has played an increasingly important role.The central and local governments at all levels have invested more and more capital in education.Since the proportion of fiscal investment in education exceeded 4% of GDP in 2012,education investment officially entered the post-4% era,which to some extent guaranteed the improvement of education development level.However,although education development can positively promote economic growth,it is not a simple linear relationship.The economic growth effect and growth quality effect of education depend on many conditions,among which the matching degree of educational investment structure and industrial structure is one of the conditions that determine the quality effect of economic growth of education.This paper will deep into the impact of educational investment structure,industrial structure and their cross effect on the quality of economic growth.Our target is exploring the effective policy arrangement of educational investment and industrial structure to improve the quality of economic growth.First of all,in this paper,the existing domestic and international relevant research literature summary and comb,draw lessons from existing research theory research framework of this article,mainly for the human capital theory,education economic theory,the theory of industrial structure and economic growth quality theory and related concepts are explained and defined,in order to establish and improve the theoretical basis of structure as the basis of research.Then,descriptive statistical analysis is made on the structure of educational investment,industrial structure and quality of economic growth in China in recent years to reveal the current situation and existing problems.According to the relevant theories,this paper analyzes the influence mechanism of educational investment structure,industrial structure and their cross effect on the quality of economic growth,and puts forward a research hypothesis.In the empirical study,total factor productivity is taken as the proxy variable of economic growth quality,DEA-Malmquist index decomposition of total factor productivity is first carried out,and then combined with the fixed effect model,the relationship between education investment structure,industrial structure and economic growth quality is empirically tested.In order to verify the reliability and stability of the empirical results,instrumental variable method,weak endogeneity sample and industrial structure rationalization index were used to test the robustness.The results show that the educational investment structure biased towards higher education significantly promotes the improvement of economic growth quality,and the increase of financial investment in higher education can promote the improvement of total factor productivity through improving technical efficiency.Industrial structure is also an important factor affecting the quality of China’s economic growth.The empirical results show that the upgrading of industrial structure fails to improve the quality of economic growth.The most likely reason is the current level of China’s economic development is not enough to make effective use of resources from the secondary industry to the tertiary industry,thus reducing the quality of growth.In the real economy,the structure of education investment and industrial structure interact,and the matching degree of education investment structure and industrial structure determines the impact of education investment on the quality of economic growth.The more closer relationship between them,the more effectively education investment can promote the quality of economic growth.Based on the research conclusion,this paper argues that to fulfil to the education finance promoting effect on the quality of economic growth,as well as further optimize the structure of education investment,at the same time we should also base on the characters of the local industrial structure,increase the education investment structure and the matching degree of the industrial structure,make education promotion of human capital and technology research and development to meet industry needs.