Research On The Influence Of Local Fiscal Education Expenditure On Economic Growth In China

Education is a vital task for our country and our Party.The report of the 20 th National Congress of the Communist Party of China made by General Secretary Xi Jinping for the first time included "implementing the strategy of rejuvenating the country through science and education and strengthening the support of talents for modernization" as a separate part,fully reflecting the fundamental,strategic position and the role of education,and a comprehensive and systematic deployment has been made to build a strong country with strong education,a strong country with science and technology,and a strong country with talents,pointing out a new direction for building a strong education country by 2035.Under the background of the knowledge economy era,high-quality human resources are the fundamental resources to ensure the future development of the country,and education,as an important way to enhance human capital,plays an extremely important role in the process of promoting economic development.The development of education has strategic significance that cannot be ignored for the realization of our country’s economic development strategy and the 2035 vision.In financial expenditure,a reasonable scale of educational expenditure is an important prerequisite for realizing the development of education,improving the quality of education,and optimizing teaching efficiency.Therefore,the size of fiscal education expenditure plays a key role in driving economic growth.As a developing country,our country unswervingly adheres to the strategy of strengthening the country with talents,and accelerating the development of education is a prerequisite for achieving high-quality economic development.However,in the past ten years,the proportion of our country’s financial education funds to GDP has averaged 4.13%,compared with the average level of 4.3% and 4.9% in the whole world and OECD countries,there is still a certain gap.Therefore,whether and how to expand the fiscal expenditure of the central and local governments has become an urgent issue to be resolved.For this reason,on the basis of qualitative analysis,this paper sorts out the current situation of national and provincial education expenditures from the perspective of the whole country and 31 provinces in China,and quantitatively analyzes the impact of financial education expenditures on economic growth from the overall and regional perspectives,which make this paper has a certain strategic guiding significance for the development of the whole country and provinces.In terms of structure,this paper first sorts out relevant domestic and foreign literature on fiscal education expenditure,human capital theory,educational economics theory,and neoclassical economic growth theory,and analyzes our country’s overall and regional fiscal education expenditure and economic growth status.In the part of empirical analysis,this paper selects the panel data of 31 provinces in China from 2007 to 2021 for analysis,constructs the Cobb-Douglas production function model,and uses STATA16.0 software to analyze the impact of the country’s overall and provincial fiscal education expenditure on economic growth.And then carry out empirical testing,draw corresponding conclusions and put forward suggestions according to the empirical testing results.Based on the results of empirical analysis,this paper puts forward the corresponding policy suggestions: to ensure the priority of financial expenditure in education,expand the source channels of education expenditure,improve the level of education expenditure management;give greater preference to policies in the central and western regions;increase the support for rural basic education in the central and western regions,and improve the system for training and introducing personnel to the central and western regions.