The Calculation Research On The Contributions Of Education To Economic Growth

With the structure changes of the world economy since the 1980's, research on educational economics has begun to make new progress in wider fields. The following viewpoints have already been or should be universally accepted by everyone: there exists a close positive relationship between education and economic growth; we should properly reckon the contributions of education to economic growth in order to plan investment proportion of education; educational policies and investment must meet the need of the new international division of labor.In this paper, I adopt calculating methods to account for the influence of education on economic growth in our country and fully prove that investment on education is more efficient than investment on fixed capital in accelerating economic growth. Since the studies of endogenous growth models are more microcosmic than those of exogenous growth models, and it exists multitudes of difficulties to obtain sample data. This paper adopts exogenous growth models to calculate economic growth. However, this paper innovates every neoclassic growth model, therefore calculating process is more reasonable, and conclusion more convincible. The concrete calculating methods are as follows.Marxism claims that the complex labor is equal to multi-times of the simple labor, but it is a crucial problem to transform the complex labor into multi-times of the simple labor when neoclassical economics of education studies the contributions of education to economic growth. In the past, it was so simple and far from truth that transforming the complex labor into multi-times of the simple labor, such as simplification approach of salary, simplification approach of education in fixed number of year, simplification approach of total school hours, etc. So it is inevitable to overestimate or underestimate the rate of simplified labor if we only adopt one simplification approach. In Section 1, Chapter 2, I present different calculatingmethod of simplified labor studied by the former Soviet and Chinese scholars and bring forward simplification approach of interest rate. At the end of the Chapter 2, I adopt correlation analysis of gray system to synthesize coefficients of simplified labor. Usually, we call system with clear information as the white system, system with entirely ambiguous information as the black system and system with half ambiguous information as the gray system. Correlation analysis of coefficients of simplified labor belongs to the gray system analysis. The gray system analysis is a synthesized evaluating model, which is characterized by objectivity and impartiality. This model can synthesize all information from every single simplification approach.In Section 1, Chapter 3, I improve Edward F. Denison's "element analysis approach of economic growth". Denison calculated coefficients of simplified labor according to annual earning per worker who has different educational level. By contrast, this paper adopts the results of correlation analysis of gray system.In terms of calculating coefficient of output elasticity of labor, which is called as ?, this paper uses regressive results that are obtained by statistical analysis of figures from past years. It maybe more reasonable that ? is regarded as regressive coefficient of annual labor investment rate, which is considered as independent variable in the equation with GDP growth rate as dependent variable. When Denison calculated the contributions of education to NI growth, he considered knowledge improvement, and he adopted the method of residual value analysis to analyse the function of knowledge improvement which affects economic growth. He reckoned that education accounts for three fifths of knowledge improvement. But this paper takes technological improvement-a more comprehensive concept of technology including knowledge improvement-as a function of time t and puts it into regressive equation, so I get the output elasticity coefficient, λ by name. Through synthesized appraisement, I estimate that 40 percent of technologica...