ScholarOne - Returns on Educational Investment in China: The Impact of
the Ratio of Social Security Fiscal Expenditure to Educational
Investment and Regional Long-Term Support Quality
Abstract
Using a panel data model, we introduce the factor of long-term quality
support and find robust evidence of the relationship between the
relative investment ratio of different types of overall fiscal
expenditures and the equilibrium effect on economic development,
especially in the realm of education investment (higher education and
vocational education). Empirical results indicate that only when the
region has a sufficiently high level of long-term quality support and
ample resources for long-term labor security, can the return on
education expenditure manifest as an improvement in the labor market.
This implies that the level of education investment and regional
development guarantee expenditure impact the long-term quality support
we propose, and to some extent, the level of long-term quality support
demonstrates its influence on the improvement of the labor market.