2009•Ha'erbin gongye daxue xuebaoRequires access

Relation model of financial investment in higher education and economic growth in China

Liu Zhi-xin

Abstract

In order to determine the relationship between financial investment in higher education and economic growth in China,this paper straightens out the relationship between financial investment in higher education and economic growth,and employs the measurement methods to analyze the intrinsical link between financial investment in education and economic growth.Through the correlation analysis and Granger causality test,the cointegration analysis and error correction model of the relationship between the financial investment in higher education and economic growth from1985 to 2004 in China,the Spearman correlation coefficient of 0.979 is obtained,which means the significantly positive correlation between them.This shows that financial investment in higher education has a significant role in promoting the economic development of China.

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Key concepts: Cointegration, Investment (military), Economics, China, Granger causality, Causality (physics), Error correction model, Order (exchange)