The Spatial Econometric Study On The Financial Spillover Effect Of China's Higher Education

The rapid development of economic globalization and technology has prompted China's economy to grow for a long period of time.However,with the disappearance of the demographic dividend,labor-intensive,extensive,and resource-consumptive economic development methods can no longer adapt to the times.With the trend of development,China has entered a period of economic transformation and development.In order to stabilize economic development and improve the quality of economic growth,China has put forward the development strategy of rejuvenating the country through science and education and strengthening China through talents,vigorously promote the building of a strong country through education,change the mode of economic development,and transform economic development into a technology-intensive,capital-intensive,and innovative model.High-quality human capital and technology promote the steady and healthy economic development.Education is the foundation of a country and it is an important mission to cultivate people's character and skills and to shape the soul and strength of the people.Education can promote the economic development of the region by cultivating qualified personnel.At the same time,it can also influence the economic development of the surrounding regions through its agglomeration effect and spillover effect.The Nineteenth Congress took innovation and education as an important and key part of a new journey for the building of a socialist modernization country.It set the building of a strong socialist education country as the fundamental project for the realization of the great rejuvenation of the Chinese nation and proposed that education should be given priority in development.It promotes the popularization,modernization of higher education,the development of higher education teaching quality and efficiency,and the optimization of higher education input structure.At present,the popularization,modernization,and connotative development of China's higher education are further deepened,and the goal of expanding the scale of higher education and expanding investment in higher education has been completed.The enrollment rate of colleges and universities is increasing rapidly.The number of students and the number of graduates have steadily increased.The contribution of higher education to economic development has continued to increase,but at the same time it has exposed various practical problems such as insufficient financial input and clear regional disparities.This article first introduces the related concepts of human capital theory,public goods theory and spatial economics,and lays a foundation for the theoretical analysis of this article.Then on this basis,it analyzes the current situation of China's higher education financial investment and the status of economic development.It is found that higher education in China has a certain contribution rate to economic growth,and that both financial investment and economic growth of higher education have significant spatial correlations.Based on this,this paper further studies the financial spillover effect of higher education,and the average public The financial budget is used as an indicator of the level of financial investment in higher education.Per capita GDP is used as an indicator of economic development level,and spatial metrology methods are used to pass the average public GDP per capita and higher education students in all provinces and cities during 2006-2016.Calculate the two-variable Moran index calculation and Moran scatterplot analysis for budgetary business expenses,examine the spatial correlation,and set the first-order queen adjacent weight matrix,using linear regression model,spatial lag model(SLM),and spatial error model respectively.(SEM)estimate verification,knot It shows that the spatial spillover effect of China's higher education on the regional economy is strong,and the spatial spillover effect is significantly related to the level of regional economic development.The more developed the regional economy,the stronger the spatial effect of higher education and economic growth in the region,and the benefit spillover of higher education.At present,the current situation of higher education's financial investment shows imbalances in regional investment,unbalanced investment structure,and insufficient total investment.In response to these problems,this paper proposes to continue to increase the scale of financial investment in higher education and investment,at the same time in the geographical area.The government continuously optimizes financial investment in higher education and promotes the coordinated development of regional higher education among geographic regions.In addition to this,colleges and universities need to adjust their professional settings and educational content so that they can play a greater role in employment and better adapt their talents to the society.They should also continue to unswervingly promote the development of industry-university-research model,driven by innovation.The economic development of our country is of high quality.