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Education, technology and high-quality economic development

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  • Meiwen, Su
  • Ming, Ji
  • Mengyu, Li

Abstract

The drivers of high-quality economic development in emerging economies remain a subject of intense debate. Although education and technology are recognized as crucial factors, their interplay, synergistic effects, and relative significance in the context of China's economic transformation are not yet fully understood. This study addresses this gap by examining the impacts of education and technology investments on high-quality economic development across Chinese provinces. Using panel data from 30 provinces over 2007–2022 as well as fixed effects models, mediation analysis, and interaction terms, this study determines the direct, indirect, and synergistic effects of these investments. Results reveal that education and technology positively influence high-quality development, and technology has a more pronounced direct effect. Human capital and information technology levels partially mediate these relationships, highlighting the complex pathways through which investments can translate into economic outcomes. Notably, we uncover a significant synergistic effect in which the impact of education (technology) investment is enhanced by higher levels of technology (education) investment. Furthermore, we find substantial regional heterogeneity, with technology investments yielding higher returns in less developed regions. These findings contribute to a more nuanced understanding of the drivers of high-quality economic development, offering insights for policymakers to optimize the balance and interaction between education and technology investments in diverse economic contexts.

Suggested Citation

  • Meiwen, Su & Ming, Ji & Mengyu, Li, 2025. "Education, technology and high-quality economic development," International Review of Financial Analysis, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:finana:v:102:y:2025:i:c:s1057521925002303
    DOI: 10.1016/j.irfa.2025.104143
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    Keywords

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    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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