Chinese Investment And Efficiency Of Highereducation During Economic Transition

The development of higher education seems to be a panacea in the face of unstable international post-crisis macroeconomic environment, the major task of economy growth and steady growth and avoiding the "middle-income trap". Higher education enrollment and expansion in recent years become one of the pillars of stimulating national economic growth and investment in higher education is also increasing. The proportion of government spending on education is4%of GDP in2012which has great historical significance. We will certainly flourish in higher education to meet the growing needs of the people, but more attention should be paid to the efficiency of higher education development. Make the national economy bigger, at the same time, distribute it economically."Efficiency" is one of the ultimate goals of improving economic development, economists have maintained a keen interest in this for a long time. The existing studies focus on the efficiency of higher education with a single method based on macro-level. So the research on higher education investment efficiency has important theoretical and practical significance.This article is based on China’s economic restructuring and across the middle-income trap and aims at the investment efficiency improvement of higher education. Propose the concept of investment efficiency of higher education after the summary and judgment of the economic attributes of higher education, that is, the ratio of actual output relative to the optimal output under certain conditions. Discuss the technical efficiency of capital, labor and other related factors into higher education. Summarizes the characteristics and patterns of higher education development on the basis of investment theory and human capital theory, comparing efficiency evaluation method and build evaluation system of higher education investment efficiency with a combination method of AHP and DEA. Obtain a representative indicator by AHP, while find technical efficiency^pure technical efficiency and sale efficiency about higher education in different regions of China by DEA and analyze the deep-seated causes of regional differences. And summarize eight education reform models, proposed a viable model of higher education and the development priorities based on the front research. Specifically, the dissertation is divided into the following sections:The first part is the introduction, mainly the first chapter, including the summary and research framework. The first chapter is an introduction. As the consul-general of dissertation, the first and second sections focus on the background and significance of the topic, education is the same issue as pension and medical major. Since the founding of China, the education reform has been ups and downs and industrialized in1990’s and all forms of education and training flourished. This enriched diversity of higher education and created more educational opportunities, but also generated a lot of social controversy. The idea of simply emphasize the education industrialization, develop higher education to promote economic growth constantly is questioned. The declination of teaching quality, education arbitrary charges and other issues followed, which presented new challenges to China’s education reform. The third section is a brief introduction of the domestic and international education economy, education industry and its attributes. The fourth section is a description of related concepts such as higher education, including the type of higher education, investors and investment efficiency. The final section is an introduction to the research ideas and methods, data and its processing.The second part is the core of the dissertation, including the second, third and fourth chapters, and mainly discusses the efficiency of higher education from both theoretical and empirical levels. The second chapter is the theoretical basis and analytical framework. The first section focuses on economic attributes, analyzing separately from non-exclusive and non-competitive, public goods, investment in human capital theory, concluded quasi-public goods properties education. Then in the second section devoted to higher education investment theory and its relationship with the stage of economic development which pave the way for later analysis of the investment efficiency of higher education, also set up macro background for the final suggestions to government; Third section focuses on higher education investment system and efficiency evaluation methods, emphasizing comparison of the non-parametric method of DEA and parameters method of SFA which is the basic model for below investment efficiency evaluation; Fourth section is about the public policy theory, mainly as the basis of government policy proposed after the judgment for investment efficiency of higher education.The third part focuses on recommendations and development model based on the previous analysis. The third chapter will turn to the international research perspective, focusing on the evolution of the structure of education investment in developed countries. First, due to the quasi-public goods nature makes the government plays a pivotal role in the development of education, so the first section focuses on the evolution of the government role in education history of developed countries; The second quarter is the introduction about the investment proportion in education, sources and trends of investment in Europe、USA、Japan and other countries, highlighting the relationship between higher education and the other at different levels of education in the development history of national education. Section III is a summary and promotion of investment experience in national education, which provide a reference for China in dealing with the allocation of funds between basic education and higher education and the like.The fourth chapter focuses on China’s investment in education and carries on efficiency evaluation taking higher education as an example. The first section describes the evolution of higher education investment structure; then study higher education investment based on the entire national education, compare investment among different level education and stage characteristics analysis; Section III is the empirical analysis of higher education investment efficiency, proposed efficient evaluation model combining AHP and DEA based on the comparison between efficiency evaluation method, focusing on the choice of indicators and modeling; make further analysis about the problems and causes of education investment binding the modeling results in the fourth quarter.The fifth chapter further explores China’s education reform based on the empirical analysis. First section is discussion about six major educational investment modes, which are "who benefits, who pays", the social funds, industry revenue, collaboration of banks and schools, Chinese-foreign cooperation in running schools, BOT and the independent education tax system. The second section proposes targeted investment mode and development priorities on the basis of empirical analysis and considered China’s situation. Emphasis on investment system of "internal marketization" and encourage the investment and system strengthening integration of production、academia and research, and highlight the investment evaluation system of higher education.Chapter sixth proposes macro design, policy recommendations and future trends for the problems and possible ways in China’s higher education investment. The first section presents the layout on education funding, expanding investment channels, establishing the funding and distribution mechanism for quasi-public goods and efficiency, promoting the supervision and management of funds, university student system to counter poverty and government regulation of universities debt risk investment and other legislative norms. Second section discussed the future trend of investment in education from universal, diversified, market-oriented, international, and information technology.Chapter seventh is the conclusions and required further research.