中美教育投资对经济增长外溢效应的研究——基于修正后FEDER模型分析
Study on the Spillover Effect of Education Investment on Economic Growth between China and the United States—Analysis Based on Modified FEDER Model

教育在现代社会中具有举足轻重的地位，它不仅可以影响教育部门的产出，还能够影响非教育部门的产出，具有明显的外溢效应。通过教育投资而再造就一定数量和质量的人才，能够提高全社会的劳动生产率，进而促进国民经济的增长和良性循环。以中美两国1991~2018年统计数据为样本，采用修正后的Feder模型，对比分析中美两国教育投资对各自国家经济增长的影响，结论如下：1) 中美两国教育投资对非教育部门的外溢效应显著，均为正效应；2) 中国国民经济体系中教育部门边际产出低于非教育部门的边际产出，而美国的情况则是相反，其教育部门边际产出高于非教育部门的边际产出；3) 教育投资对经济增长的直接效用为负效应，可能由于样本选取数量较少等原因导致的偏差。因此，为了更好地发挥教育投资外溢效应对经济增长的促进作用，应该继续加大教育经费的投入力度，加强教育部门与非教育部门的联系，并且完善人才引进和有序流动机制。
Education has a pivotal position in modern society. With obvious spillover effects, it can not only affect the output of the education sectors, but also the output of the non-education sectors. Recreating a certain quantity and quality of talents through education investment can increase the labor productivity of the whole society, thereby promoting the growth and virtuous circle of the national economy. Taking the statistical data available in China and the United States from 1991 to 2018 as a sample, this paper uses the modified FEDER model to analyze the impact of education investment on the economic growth of China and the United States. The conclusions are as follows: 1) The spill-over effects of education investment in China and the United States on non-education sectors are significant and both are positive effects; 2) The marginal output of education sectors in China’s national economic system is lower than that of non education sectors, while the situation in the United States is the opposite, which the marginal output of education sectors is higher than that of non education sectors; 3) The direct effect of education investment on economic growth is negative, which may be due to the small sample and other reasons. Therefore, in order to better play the role of education investment spillover effect in promoting economic growth, we should continue to increase the investment in education funds, strengthen the links between education departments and non-education departments, and improve the mechanism of talent introduction and orderly flow.