A Study On The Influence Of China’s Government’s Higher Education Investment On The High-quality Economic Development

In the report of the 20th National Congress of the Communist Party of China,Jingpin Xi general secretary once again discussed that "high-quality development is the primary task of building a socialist modern country in an all-round way",and proposed to promote the effective improvement of the quality and reasonable growth of the economy,which not only reveals the distinctive characteristics of China’s economic development in the new era,but also points out the strategic direction of China’s economic development in the future.As the main way to improve human capital,higher education undertakes the important task of cultivating and exporting high-skilled and high-level talents,and is the key factor to promote high-quality economic development.With the development of economy and society putting forward new requirements for high-level talents,the scale and structure of investment in higher education are also facing huge challenges.Therefore,it is of great significance to carry out empirical research on the impact of government investment in higher education on high-quality economic development based on different structures to optimize the configuration of government investment in higher education.Firstly,on the basis of human capital theory,public goods theory and new economic growth theory,this paper analyzes the theoretical basis and mechanism of the impact of government investment in higher education on high-quality economic development.Secondly,the evaluation system of high-quality economic development is constructed and measured by the improved entropy method.Finally,the panel data of 30 provinces from 2006 to2020 are used to conduct in-depth empirical research on the impact of different types of government higher education investment on high-quality economic development under the structure of investment sources and investment objects.The research finds that:(1)China’s government investment in higher education has a significant positive correlation with high-quality economic development,and government investment in higher education has a positive role in promoting high-quality economic development in China.(2)Under different structures,the impact of government investment in higher education on high-quality economic development is different.Among them,the investment in higher education of the central government and the investment in higher education of the local government have significant promotion effects,and the investment in higher education of the local government is superior to the investment in higher education of the central government.The government investment in higher education in ordinary undergraduate colleges will play a positive role in promoting the high-quality development of China’s economy,while the government investment in higher education in higher vocational colleges is not significant.(3)From the perspective of regional heterogeneity,there are great differences in the impact of the structure of government higher education investment sources and the structure of investment objects on the high-quality economic development of different regions.When formulating investment strategies,the level of regional economic development and regional development characteristics should be considered.Based on this,it is necessary to clarify the responsibility division of higher education expenditure and optimize the structure of higher education investment sources;Increase the investment in higher vocational education and promote the high-quality development of higher vocational education;Pay attention to the differences in high-quality development of regional economy and implement differentiated investment strategies.