Economic Performance Analysis Of Education Investment An Empirical Study Based On The Data Of Shandong Province

This is an empirical study of education investment level and type and its economic performance.The level of education is an important manifestation of the level of human capital.Education is one of the important channels of human capital formation in modern economic society.The level of investment in education represents the level of human capital investment in certain region.Results of studies show that there is a significant positive correlation between educational level and economic growth.On the basis of predecessors,research,this paper makes a new and in-depth exploration on the concrete connotation of human capital and its economic performance.According to the theory of human capital,human capital not only includes education,but also includes investment in health,labor and other factors within workers move in and out the region.The study of the connotation of human capital is very rich now.This paper focuses on education as the main influencing factors to examine human capital.Firstly,this paper examines the different economic performance at different levels of education.With the deepening of research,to systematically measure the level of education,human capital is redefined and measured from both the quality of education and different types of education,while the type of human capital will be measured from both the basic education and the vocational education.Whether or not the economic performance of the basic education has a significant consistency is the first thing we need to investigate.From the point of traditional view,the difference of economic performance between primary,secondary and high school are always close.This article has carried on the detailed analysis to it.Different stages and types of education represent different types of human capital.Horizontal comparison,as an important supplement to the basic education,China's vocational education has made great progress and has an important impact on the regional economy.We also focus on whether or not the basic education and vocational education have great differences on economic performance for differences in the aim of training,the length of schooling and the difference of regional distribution.In the classical literature of human capital research area,various factors used to measure the level of education are generally not considered separately to study the differences of the respective effects.Previous studies in this field focus on the theoretical research.Some scholars in China have made an in-depth regression analysis on the impact of education on the economic based on the data of the provincial or provincial level cities and municipalities.Taking the regional differences in education and siphon effect into account,we use the data of Shandong county and county-level city to test the traditional human capital theory.All the data in regression comes from the official figures,with long time span,which is more convincing.In the empirical test part,the level of human capital in different stages is presented by the proportion of the number of students enrolled in the school or the number of people who have gotten a certificate of education in the local population,as the substitute variable.As to economic performance,we takes different dimensions of economic performance into the scope of investigation,for the reason that one single index cannot reflect the specific connotation of economic performance scientifically.Output value and profits of industrial enterprises,total deposit and income of residents are used as the substitute variable of economic performance.These economic performance indicators include the total economic development,residents deposits and income,etc.Single factor or multiple regression analysis are used in the first step.Then,we test the hypothesis of time delay through the intertemporal regression.Finally,through the optimization of the model and the data,this paper makes a further test of the conclusions and conjectures of our study.