Research On The Contribution Of Higher Education's Financial Investment Per Student Funds?R&D Funds To Economic Growth Of Jiangxi

Higher education is the main way to strengthen personnel training and promote the accumulation of human capital.The accumulation of human capital has the indirect effect of supporting social and economic development.Vigorously developing higher education,accelerating the development of high-quality talents,and promoting coordinated economic and social development have become the strategic commanding heights for the economic development of various countries and regions,and have become major strategic issues concerning the enhancement of core competitiveness.Since the colleges and universities expanded their enrollments in 1999,the ranks of teachers and students in colleges and universities have been continuously growing,and investment in education funds has also increased.In fiscal 2012,for the first time,fiscal education expenditures accounted for 4% of GDP.The relationship between the financial investment of higher education and economic growth has gradually become the focus of scholars.This paper selects higher education financial expenditure per student funds,R&D funds and GDP data in Jiangxi province from 1999 to 2014.First,compared with the national average level,then have a preliminary understanding of the situation in Jiangxi Province.Using the statistical software Eviews7.2 for empirical analysis,through the ADF unit root test,VAR model,Co-integration test,Granger causality test and variance decomposition to further explore the dynamic relationship between the per student funds of higher education,the R&D expenditure and economic growth.The research shows that there is a long-term equilibrium dynamic relationship between per student funds of higher education,the R&D expenditure and economic growth.In the long run,the contribution of per capital expenditure to economic growth is less than that the contribution of R&D investment,and found some problems in Higher Education in Jiangxi province.In order to make higher education financial funds to better promote economic growth,predicted 2015-2020 years of financial funds and R&D investment by the Holt-Winter non seasonal model.And puts forward the relevant suggestions from three aspects: broadening the channel of financing for higher education,rationally allocating and utilizing the financial funds for higher education,and improving the quality of higher education.Expect to provide a reference for the government Jiangxi Province in financial average per capital expenditure and R&D investment in higher education,and it is also helpful for colleges and universities to better manage their funds and improve the quality of higher education.