Education Investment And My Country's Economic Development Research

To achieve sustainable economic development,not only to promote economic growth,but also to achieve a reasonable pattern of income distribution is the long-term goal of macroeconomics,is also the realistic need for China's economy to transform to a high-quality stage of development and ultimately achievement of common prosperity.The existing economic literature researches shows that the main source of a country's sustainable economic development comes from its human capital when the economy of a country crosses the initial stage of development,and education investment,as one of the most important paths of human capital formation,plays an extremely important role.Based on the urgent needs of reality and the enlightenment of existing research,this paper takes the internal logic of education investment and economic sustainable development as the research object,giving due consideration to efficiency and equity,and focuses on how education investment can promote economic growth and how it affects the income distribution structure.In the research path,first of all,this paper is committed to building the theoretical analysis framework of education investment,human capital increase,technological progress and economic growth,and analyzing the theoretical logic of the evolution of education investment and income distribution pattern.Then,this paper adheres to the combination of normative analysis and empirical analysis,and makes empirical research on the contribution of education investment to economic growth in different stages and the impact on the income distribution gap in different regions,and makes comparative analysis on the experience and effectiveness of education investment between developed countries and "catching up" countries.Finnally,this paper draws conclusions and suggestions on basis of aforesaid discussion.In the theoretical analysis,this paper first analyzes the determinants of educational investment.Although the investment in education is very important for any country,people pay different attention to the investment in education in different stages of a country's economic development.Secondly,based on a large number of theoretical and practical evidence,this paper argues that education investment,human capital increase,technological progress and economic growth have internal theoretical logic.However,the impact of human capital investment such as education on the pattern of income distribution is uncertain,which may narrow the income distribution gap,or expand the income distribution gap instead.This point needs to be highly concerned in the process of realizing sustainable economic development through education investment.In the empirical analysis,this paper first analyzes the scale and structure of China's education investment,and summarizes the characteristics of China's education investment.In order to make up for the deficiency of the estimation of family education investment in the existing literature,this paper uses the statistical sampling survey of China's urban residents' education investment which created by Tsinghua University to estimate the family's education investment in children.Secondly,according to the characteristics of China which is in the critical period of economic transformation and development,with the help of Cobb Douglas production function analysis model,it is found that,as China enters the middle and later stage of industrialization,the contribution rate of education to economic growth is increasing,and the importance of education investment in various factors is increasing.However,China's education investment has not narrowed the income distribution gap which is as another important dimension of economic sustainable development,but expanded the initial distribution income gap.At last,this paper introduces systematically the foreign education investment and its effect on the sustainable development of economy.It not only summarizes the experience and practice of developed countries such as Britain and the United States,but also expounds the experience of catching up and overtaking countries such as Japan and South Korea,for striving to provide a more comprehensive and beneficial reference for the macro decision-making of China's education investment.The possible innovations of this paper are mainly embodied in three aspects: Firstly,considering the efficiency and fairness perspective,this paper puts forward the theoretical analysis framework of education investment promoting economic sustainable development,and tests the theoretical logic through empirical analysis.Secondly,this paper uses the method of combining the official statistical data and the micro sampling survey data to estimate the total scale of China's education investment and its proportion in GDP.It is preliminarily estimated that if the investment of household education is added,the proportion of China's education investment in GDP has reached more than 5%.The third is to carry out empirical analysis in close combination with the actual situation of China's economic transformation and development,to investigate the role of education investment in the early stage of industrialization and the middle and late stage of industrialization in economic growth respectively,to analyze the impact of education investment on the initial distribution of income gap in the East,central and western regions,and then to point out targeted policy recommendations for further optimizing education investment and promoting the sustainable development of China's economy.