Statistical Analysis Of The Influence Of Financial Education Expenditure On Economic Growth Based On Cointegration Model And Spatial Metering Model

Education is a country's livelihood plan,providing manpower and technology for development.The promotion of education to the economy has been recognized by most countries,and the mutual influence of education and economic growth will become more and more increasing with the improvement of the national economic level.Obviously,the leading role of education in the economy has been valued by more countries.In the past decade or so,China's education industry has developed steadily.However,compared with advanced foreign countries,the problem of the overall backward development and unreasonable structure of China's education industry still exists.In 2017,at the 19th National Congress of the National Military Commission,Secretary Xi Jinping emphasized the issue of“prioritizing the development of education”in the education issue.“Building a strong education country is the basic project of the great rejuvenation of the Chinese nation.We must prioritize education and accelerate education.Modernize and manage the education that the people are satisfied with."In order to statistically analyze the impact of fiscal education expenditure on economic growth,this paper uses two methods to conduct empirical research:traditional measurement model and spatial measurement model,and the results of the two methods are compared horizontally.On the one hand,based on the data of China's fiscal education expenditure and GDP from 1980 to 2016,based on the extended Cobb-Douglas production function,the cointegration model and the error correction model are constructed,and it is concluded that both long-term and short-term,Financial education spending and capital investment have a significant impact on economic growth.The specific performance is that in the long run,the per capita financial education expenditure growth rate and the per capita capital growth rate will change by1%,and the per capita GDP growth rate will change by 0.3668%and 0.2664%in the same direction.In the short term,the per capita financial education expenditure growth rate and per capita capital growth rate The impact of fluctuations on the growth rate of per capita economic scale is more significant.The ratio of 0.4776 and 0.1638 affects the per capita GDP growth rate,while the non-equilibrium error that lags behind the first period corrects the fluctuation level of per capita GDP growth rate by 0.8335.On the other hand,the spatial measurement software GeoDa developed by Anselin used the space quartile map of the regional financial education expenditure and regional GDP data of 31 provinces and cities in China(excluding Hong Kong,Macao and Taiwan)in 2016.At the same time,the“car”space weight matrix is constructed to calculate the global(69)~?index of regional financial education expenditure and regional GDP.The results show that there is spatial autocorrelation between regional GDP and regional fiscal education expenditure,which is suitable for constructing spatial measurement model.Therefore,a spatial lag model(SLM)and a spatial error model(SEM)between two variables are further constructed.The SLM model shows that there is a clear positive correlation between fiscal education expenditure and economic growth in China,and the economic growth of a certain region is also affected by the economics of its neighboring provinces.It is also obvious from the SEM model that there is a positive correlation between fiscal education expenditure and economic growth.At the same time,comparing the three values of LogL,AIC and SC of the two spatial measurement models,the fitting effect of the SLM model and the rationality of the model are better than the SEM model.Finally,by comparing the effects of the traditional and spatial measurement models,the goodness of fit of the spatial lag model is 72.0231%,which is significantly higher than the 58.17%of the cointegration model,which indicates that the fitting effect of the spatial measurement model is better than that.The traditional metrology model is better.The spatial econometric model takes into account the impact of the neighboring provinces on the economic growth of a certain province,and explores the spatial clustering of the economy,making the model between the construction of fiscal education expenditure and economic growth more reasonable.Finally,based on the results of empirical analysis,the following three conclusions are summarized:(1)The matching of fiscal education expenditure and economic growth is unreasonable.(2)The fiscal education expenditure and economic growth have spatial consistency.(3)Financial education expenditure has a positive effect on economic growth.And put forward relevant suggestions:(1)continue to increase the national financial education expenditure.(2)strengthen the government function of financial education.(3)optimize the financial education expenditure allocation system.