Research on the Relationship Between Higher Education Development and Economic Growth in China

Abstract

Education has always been a very important research issue, and China's higher education has developed rapidly along with its economic take-off. The issue of the correlation between education and economic development has also been researched many times in the academic world. So, this paper analyzes the dynamic correlation between the development of higher education and China's economic development, as well as the gross domestic product of the People's Republic of China (excluding Hong Kong Special Administrative Region of China, Macao Special Administrative Region of China, and Taiwan Province of China) for the period 1978-2021, based on the existing literature, through the data on the number of graduates from higher education, general higher education, and postgraduates (master's degree and doctorate). It is finally concluded that economic growth will directly contribute to the development of higher education, and similarly, the growth of higher education will offset economic growth with a slight lag.