The Study Of The Effectiveness On The Economic Growth Of Spillover Effect Of Education Expenditure Of Shandong Province

The international competition is testing the comprehensive strength of each country all over the world,especially the base of comprehensive strength,including innovation of technique and the development of economy.Meantime,education is the very footstone that improves the national quality,training scientific personnel and promoting the economic development.So is the development and competition among provinces.Education expenditure is the important power to support the development of education.Conversely,the increasing development of education is beneficial to the accumulation of the quality of human capital,and the innovation of production technology,thus to promote the sustainable development of economy.However,the problems caused by the education expenditure of Shandong Province results that the Spillover Effect can't work smoothly,so the study of education expenditure's impact on economic growth from the perspective of the Spillover Effect has the theoretical and practical significance.First of all,this paper expounded the scholars' study from home and abroad,demonstrated the related concepts of educational spillover,economic growth and the education expenditure,analyzed the theory of educational economics,human capital theory and the Spillover Effect theory.Then this paper investigated the present situation of the education expenditure and economic growth of Shandong Province,analyzing the situations from the whole province and the different areas,pointing out the obstacles that affected the Spillover Effect,including the unsound system of education expenditure,unbalanced configuration,insufficient investment,low utilization efficiency.Furthermore,according to the data analysis,this paper put forward the influence of unbalanced economic development between cities in Shandong province,and demonstrated fatherly the close relationship between educational expenditure and economic growth.Then,the paper constructed the Cobb Douglas production function model,analyzed the data from 1995 to 2014 of Shandong province by using Eviews8.0,through the analysis of unit root cointegration test,Granger causality test and impulse response,it is found that education expenditure and economic growth were related,and had lagging effect on economic growth.Finally,according to the problems existing in the education expenditure of Shandong province and the VAR result,this paper put forward some feasible suggestions for the development of education expenditure and education in Shandong Province,including improving the system of education expenditure,adjusting the allocation structure,and improving the efficiency of the use of educational funds,expanding the source of educational funds,increasing the publicity of education,issuing education bonds,and establishing educational funds in order to reduce the pressure of government through the media and net,etc;adhering to the principle of education and economic development,adjusting appropriately the structure of the development between education and economic,so that education adapts to economic development,in order to make the best of the Spillover Effect of education on economic growth;encouraging to increase vocational education of Shandong province,training professional and technical personnel,improving the efficiency of employment,adapting to the development of economic restructuring.On this basis,to promote the role of educational development in promoting economic growth,providing talents and technical support for the sound and rapid economic development of Shandong province.