An empirical research on the long-term equilibrium and short-term dynamic between educational input and economic output in Henan Province

Using the sample data from 1952 to 2011 years to study the dynamic correlation between educational input and economic output by the multivariate auto regression model, and on this basis, it conducts a systematic analysis of the interaction mechanisms between factors of education input and economic output by using co-integration theory and error correction model. Conclusion indicates that: there is not only a long-term stable equilibrium relationship between educational investment and economic output, but also has a short-term dynamic relationship. In the long term, the output elasticity which educational investment and educational infrastructure construction on economic output is the most significant, respectively 1.112 and 1.313; in the short term, the response coefficient which economic output on educational investment and college students is positive, respectively 0.492 and 0.208.