Research On The Influencing Factors Of Family Education Investment

In the 21 st century,education,as the main way of human capital reserve,not only plays a significant role in promoting social economy,but also is the main channel for talent competition.During the founding period of our country,the education investment system mainly focused on the government's financial investment in education,and basically implemented the policy of free education.However,with the sharp increase of education cost,the financial education supply of our government is difficult to meet people's educational needs.Family education investment has gradually become an important part of the education investment system,but also an important supplement to the government's financial education investment.Therefore,a thorough understanding of the impact mechanism and spillover theoretical mechanism of family education investment can help us to understand our educational investment system more clearly and realize a more efficient allocation of educational resources.On the one hand,by combining historical documents and practical cases,this paper deeply and comprehensively understands the spillover principle of family education investment.On the other hand,based on the large sample data set of CHFS family education investment,this paper obtains the causal relationship among the factors affecting family education investment through empirical analysis,and puts forward some suggestions based on relevant conclusions.Constructive policy implications.In order to better analyze the spillover of family education and the influence of related factors on family education investment,firstly,this paper combs the literature from three aspects: the externality of education,the study of local government financial expenditure on education and the study of influencing factors on family education investment,and summarizes the advantages and disadvantages of previous literature: domestic scholars mainly study macro-education expenditure.In recent years,there are more and more literatures on education investment from the micro-perspective,but few people connect macro-government education expenditure with micro-family education investment.Most empirical studies are based on data sets at provincial,municipal or county levels.There are few studies on the micro-characteristics of family education investment decision-makers.Based on this,this paper regards local education expenditure variable as a control variable in the empirical research of micro-family education investment,and then obtains the relationship between macro-education expenditure and micro-education investment.In addition,the empirical data set is based on the household micro-survey data of CHFS in 2013,and takes a single household as an individual,so that the empirical analysis can more accurately reflect the micro-variables.Relationship.Through the establishment of mixed OLS model for empirical analysis,we draw the following conclusions: Firstly,we analyze the impact of various micro-factors on family education investment from the empirical results,and classify and summarize the impact ways of different factors;Secondly,we analyze the mechanism of the significant positive impact of local financial education expenditure on family education investment,from the empirical conclusion.As a result,the positive impact of local education level on parents is greater than the crowding-out effect of local education expenditure on family education investment.Thirdly,the empirical results of family education investment are supplemented from the perspective of education spillover: good economic conditions,high family education level and urban household registration factors will have a significant positive impact on family education investment.From the perspective of positive spillover of educational investment,these factors will affect family members' educational vision and ideas,thereby enhancing family preference for educational investment;from the perspective of negative spillover of educational investment,families with good economic conditions and high social status will have fewer obstacles than most rural families in competitive advantage of educational resources,including "school selection fees","high-quality cram schools".And so on.Finally,based on these conclusions,this paper gives some practical policy implications.