Education Investment, Labor Quality and Economic Growth——Based on STR Model
Jie Hui1 Wang Chengyong2
1.College of Public Administration, Central China Normal University, Wuhan 430079;2.School of Mathematics and Statistics, Hubei University of Arts and Science, Xiangyang 441053
Abstract:The empirical research done by this paper shows that, low growth rate of education investment plays a hindering role in economic growth, while high growth rate plays a significant role in promoting economic growth. Compared with the depressed period, the growth rate of labor quality index at the rise period has a great and significant promoting effect on economic growth. From the perspective of policy significance, in the current new normalcy of economic growth, higher education input growth rate and priority development strategy of education should be ensured and implemented; The expenses on labor health, education and training should be expanded, and the labor quality should be significantly improved.