Analysis of the Impact of Education Level on Regional GDP

Xinzi Xu

doi:10.54097/hbem.v21i.14410

Authors

Xinzi Xu

DOI:

https://doi.org/10.54097/hbem.v21i.14410

Keywords:

Regional GDP, Multiple Linear Regression Analysis, OLS Regression, Macao, R.

Abstract

Through theoretical model analysis and linear regression analysis of Macao, this paper studies the influence of education level on regional GDP. It is found that education level has a significant positive impact on regional GDP. As an important part of human capital, education can improve labor productivity and innovation ability by improving people's knowledge level and skills, thus promoting regional economic growth. The analysis of the theoretical model reveals the multiple channels and mechanisms of education to economic growth, including technological progress, industrial structure upgrading, and job opportunity upgrading. As a special region, the linear regression analysis results show that there is a significant positive relationship between the education level and the GDP of Macao, which further validates the importance of education to economic development. To sum up, the results of this study emphasize the importance of education, and the government and society should increase the investment in education and improve the level of education to promote regional economic growth and social progress.

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