Study on the Relationship between Compulsory Education Funding and Economic Development in Guangdong Province

Wencong Mu

doi:10.62051/ijgem.v5n2.19

Authors

Wencong Mu

DOI:

https://doi.org/10.62051/ijgem.v5n2.19

Keywords:

Investment in education, Compulsory education, Economic development

Abstract

This paper employs panel data from 21 cities in Guangdong Province from 2017 to 2022 to examine the relationship between compulsory education investment and economic growth. The empirical results revealed a significant positive correlation between investment in compulsory education and the level of economic development. Additionally, there is a more apparent regional imbalance in compulsory education investment in Guangdong Province. In light of the empirical findings, this paper proposes that to more effectively promote the coordinated development of the regional economy and society, the Pearl River Delta region can serve as a source of radiation, facilitating industrial co-construction with other regions to stimulate economic growth. Furthermore, priority should be given to economically underdeveloped regions in terms of funding support for the compulsory education stage and the deployment of talent. Additionally, economic support and talent deployment will be provided to less developed regions.

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