The Contributions Of Education Investment To Hubei Province’s Economic Growth

The research of new economic increase theory indicates that the human capital is the most important factor of economic growth, and educational investment is the primary way to human resources development. The Hubei province is currently on the high way of economic, so it is very significant to keep economic growth continually and to recognize the relationship between educational investment and economic increase correctly.This research is about contribution to Hubei economic growth of education input on Hubei Province.On the basis of economic growth theory and Education economic. Combined with the specific situation of Hubei Province, the writer establish econometric model to analytical the basic situation of Hubei. With the analysis and empirical methods, we treat education investment as an inner factor and find the mechanism between financial education input and economic growth at current stage in Hubei Province.First of all, the writer clears up a lot of previous literature about education investment. secondly, the writer expounds the concept of education investment and the mechanism that how education investment affect the economic growth effectively. These build a solid theory foundation for the empirical study later. Then the writer looks up China statistical yearbook and Hubei statistical yearbook from2002to2013, produces sheets and charts to explaining the current situation of education investment in Hubei province in the basis of this groundwork. After that, the paper researches the empirical relationship between education investment and Hubei economic growth with measure model. The result of this part proves that education investment has a positive affect on the economic growth of Hubei and the influence of senior professional skills training school is most obvious.The study support that the payment of education investment is lower than capital and labor. Since the reform and open-up, the education investment to senior professional skills training school has made the most contribution for the economic development of Hubei province. So this paper is not only enriches the theories about subjective education investment but also offers some suggestion for reference and inspiration for Hubei development. The writer suggest that in order to boost the Hubei economic growth, the government of Hubei should adjust the core of education investment and pay more attention to completing the development of senior professional skills training school, improve the environment for employment aiming to keep the high-tech talents.