Author(s)

Bangdong Zhou ¹

Affiliation(s)

¹ College of Economics and Management, China Agricultural University, Beijing, 100089

Corresponding Author

Bangdong Zhou

ABSTRACT

This paper uses various data on education financial investment and economic growth in Shanghai during 1992-2017, conducts smoothness test, Granger causality test, impulse response function and variance decomposition based on VAR model, and constructs a regression analysis model to analyze the impact of education financial investment on economic growth in Shanghai. It is found that: increasing education financial expenditure helps promote the growth of Shanghai's total economy, and for every 1% increase in education financial expenditure, the economy will grow by 0.569%. Based on this, this paper puts forward feasible suggestions to increase education financial investment, broaden education funding channels, and enhance the economic development potential of Shanghai.
 

KEYWORDS

education expenditure, economic growth, empirical study, VAR model, regression analysis

CITE THIS PAPER

Bangdong Zhou, An empirical analysis of education financial investment on economic growth in Shanghai - a time series study based on the period of 1992-2017. Financial Engineering and Risk Management (2021) 4: 36-39. DOI: http://dx.doi.org/10.23977/ferm.2021.040208

REFERENCES

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[3]Liu B. An empirical study on the impact of fiscal expenditure on higher education on economic growth in China [D]. Capital University of Economics and Business, 2018.
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