The Construction of Economic Education Model Based on the Spatial Durbin Model

Abstract

This research attempts to address the complexities and the nuances that are a part of the economic education by proposing an innovative model that is grounded in the Spatial Durbin Model (SDM). The spatial interdependencies which are crucial for the understanding of the regional variations in the economic implications and the efficacy of the educational policies are sometimes neglected by the conventional main frames of the economic education. The integration of the SDM, which is a sophisticated spatial econometric tool, aims to offer a thorough and detailed understanding of the intricate relationships between the education and the economic development in context of the diverse geographics. The model that is proposed in this research study extends beyond the traditional linear regressions as it accounts for the spatial autocorrelation and the spatial lag effects which thereby captures the spatial spillover and the diffusion of the educational investments and policies. With the help of the empirical analysis which moves forward by the utilization of the spatial econometric techniques such as the spatial lag and the spatial error models, strives to explore the spatial dynamics of the economic education while identifying the spatial patterns, the dependencies involved and the disparities that come up in the attainment of the educational and the economic performance. By incorporation of the spatial dimensions into the economic education model, the policymakers and the educators are able to get their hands on the in depth insights. This is into the spatially differentiated impacts of the educational interventions which tends to enable a more targeted and a more effective design and implementation of the policy. Furthermore, the proposed model also aims to facilitate the identification of the spatially targeted strategies in order to address the regional disparities with respect to the educational outcomes and the economic growth. Hence, it contributes to a more inclusive and a sustainable development trajectory. Through the interdisciplinary effort of bridging the economics, education and the spatial analysis, this research extends a valuable main frame for the policymakers, educators and the researchers which helps in attaining better understanding and helps to address the multifaceted challenges as well as the opportunities in the economic education and the regional development. Ultimately, this has enhanced the understanding of the spatial dimensions of the economic education which leads to the evidence based policies and interventions which are aimed at nurturing the equitable and resilient economic growth. In this paper, we utilize the spatial Durbin model as a framework to investigate the role that advanced degrees play in driving technological innovation in various parts of the world. Spatial self-correlation and instability in the geographic distribution of post-graduates in China were shown by data from the regional panel in China between 2004 and 2018. Advanced degrees facilitated the advancement of cutting-edge technologies.