The Study On Rate Of Return To Higher Education In China

Education is the most important way for human capital investment and an important force for promoting social,political,economic and cultural development.It has an important influence on the economic and social status of individuals.To ensure long-term continuous investment in education,education investment returns need to be guaranteed.The rate of return on education is an important indicator to evaluate the return on investment in education.It is an important reference index for the government to make investment policies for education and to formulate human resources strategies.It is also the reference basis for individuals and families to make decisions on investment and education.Higher education is an important way for senior human capital investment.If investment in basic education is to enable individuals to have the basic skills to make a living in modern society,then higher education investment will give individuals advanced skills and knowledge,enabling recipients to have some innovative ability and enhance their competitiveness in society.The benefits to individuals of receiving education have always been of great concern to researchers in the area of human capital investment.With the expansion and popularization of higher education and the increasingly competitive employment market,more and more people choose higher education such as junior colleges,universities and graduate students to improve their own human capital.The purpose of education is to receive the reward.After paying a great deal of time,money and energy in the higher education stage,the higher education's return rate is worth studying.This paper first reviews and summarizes the current research results on the returns of higher education in our country.Next,we determine the main models and variables of this paper.Based on this,we use CLDS data of 2014,Stata tools,Ordinary least squares method(OLS)is based on the Mincer equation as a model and estimates that the return rate of China's higher education is about 36% without considering the omitted variables,that is,every education increased by one step The level can bring about an annual income increase of about 36%,and analyzes the education of the gender,family background factors and job industry factors on the impact of higher education yields.