教育投资在经济增长中的作用机制研究
|
摘要
本文采用定性和定量相结合的方法对教育与经济增长之间的传导机制与作用机制进行了分析和检验。
首先,本文通过数理模型分析了在不同融资体制下的人力资本状况以及人力资本积累规律,并且通过计量模型对由于各省市教育投资不平等所带来的教育资本存量的不同进行分析。结果表明,改革开放以来,我国实施的教育扩展政策收效显著,人力资本水平普遍提升显著地改善了我国地区间教育获得的不平等状况。
其次,基于结构VAR模型对我国教育支出、平均工资以及经济增长序列之间的作用机制问题进行分析和测度,发现教育支出的持续增长会导致平均工资和GDP的持续增加,教育支出显著Granger影响经济增长和平均工资水平,平均收入和经济增长对我国教育投资支出的持久增长具有长期正向反应。
再次,通过运用马尔科夫区制转移模型研究并刻画我国教育投资与经济增长波动性的时间动态路径,发现我国教育投资以及经济增长都可以分为“低速增长”、“适速增长”、“高速增长”三个状态,目前我国教育投资增长率以及经济增长率波动均处于“适速增长”阶段,我国教育投资以及经济增长波动已经呈现出稳定性继续增强、持续期逐渐加长等重要特征。
最后,以我国各省为研究对象,通过建立面板数据模型探讨在我国各省教育投资与经济增长之间的关系,发现教育投入与经济增长的关系在我国还是比较显著,由于地区差异造成的投资不均衡带来的经济增长幅度不同在各省之间也有所体现。
The modern theory of economic growth is an important branch of economics, and economic growth is also an important symbol of receiving economic success. To achieve sustained and stable economic growth is always the goal of governments, thus economic growth has been a national study by economists focus of the issue.
Economic growth is the physical capital and human capital in terms of quantity and quality to improve. Physical capital and human capital not only between but also complement and promote each other. In the traditional theory of economic growth, economic growth plays a major role in promoting the investment in physical capital. On the basis of the evidence ,The human capital theory put forward in the 1960s has shown that the developed countries revive the economy not because of the basic physical capital investment, but because of its investment in human capital. Now a growing number of economists believe that through research, in the early stages of economic development, physical capital made a larger contribution to economic growth, but in the medium-term, economic growth was mainly due to investment in human capital. That is a national or regional economic development rather than depends on the ultimate determinant of its material resources, but it depends on human resources. As an important component of human capital, l investment in education is the main ways of human capital accumulation and growth.
Investment in education does not influence economic development directly, but it does have an impact on economic development indirectly through human beings. Education to economic development is to pass by two ways. On the one hand, education can make contribution to the optimization of human capital, particularly in improving labor productivity. In general, the more people educated, the more knowledge and skills these people will receive, and the easier and faster the work will be done. At the same time, they can be more accurate to complete more missions. From the labor market performance pay, we can determine the educated workforce as a result of the relatively high performance, which obtained more income. On the other hand, education can improve the socio-economic environment for the human beings to work and live, and then through optimizing the living environment, education will improve the quality of life and increase the productivity. For example, higher education will be the access to more stable marriage, and the people who have higher education will pay more attention to population quality of the next generation, and also will be pay more attention to the daily life; the education level will have a positive impact on the human beings’consumer behavior and asset management, and developed education is also conducive to reducing unemployment and crime.Because the quality of human resources have a great impact for economic development, and investment in education is the main core for the formation and accumulation of human capital, to increase investment in education, develop education and cultivate the talent social development needed is becoming more and more universal.
Investment in education through the accumulation of human capital and in turn affect economic growth. Human capital, economic growth is an important part of how investment in education to measure the accumulation of human capital, is a question worth considering. Through theoretical analysis of the mathematical model in different financial institutions under the state of human capital and human capital accumulation law and the adoption of model measures for the various provinces and cities as a result of investment in education inequalities brought about by the education of the capital stock of the different analysis, has been a series of The empirical results. Through the empirical analysis, we believe that reform and opening up, China's educational policy effect to expand significantly, raise the general level of human capital, universal compulsory education, higher education expansion, a significant improvement in China's inter-regional inequality of access to education. There is still a degree of regional differences, but in recent years, initial education, the greater the degree of inequality in the region, the degree of inequality also reduce the greater the initial level of inequality in education, the smaller the area, the rate of reduction in the degree of inequality The smaller, have shown a trend of convergence.
Based on 1952 to 2007 annual data,we use structural VAR model, Granger causality test,response of impact functions and variance decomposition,to test the effect of education expenditure growth to the average wage, as well as economic Growth. DF, and DF-GLS test results show that education expenditure, the average wage as well as the GDP series are non-stationary process.And the structural of the VAR equation parameters show that there are no structural changes of the educational expenditure,the average wage and GDP in China.By calculating the long-term response of the average wage and GDP on education expenditure, we find that education expenditure will lead to continued growth of average wages and GDP.Granger Causality Test results show that the education expenditure has significant impact on economic growth and the average wage level. Through the impulse response function, we can see that the response of economic growth and the average wage level to education expenditures lasted for 7 years and 9 years. Economic growth of variance decomposition shows that as time goes on, economic growth in the contribution to the variance is dwindling, and the average wage of contributions to the variance is enhanced. The average wage variance decomposition shows that the average wage of the variance in contribution is weakening.Therefore, the average income and the economic growth of China has a positive response of education expenditure growth.
In the fifth chapter, we study investment in education on economic growth mechanism. This chapter measure China's investment in education with the national financial expenditure on education, and measure China's economic growth with GDP. After unit root test, we make a regression analysis with investment as explanatory variable and GDP as dependent variable, and the result shows that in the 1952-2003 period investment in education on the role in promoting economic growth of about 22.62 percent. We can see that after implementing market-oriented economic system, investment in education to economic growth boost significantly enhanced. Education to economic growth in the size of the effect is very prominent, and education to economic growth can not be ignored. When measuring the contribution of investment in education to economic growth rate in the chapter, we use the determination on saving, investment and economic growth model made by Britain's Oxford University and the Massachusetts Institute of Technology Harold Thomas, and the results of calculations reveal that education has a significant promoting role in long-term growth of the national economy. The Granger-causality test and co-integration show that investment in education and economic growth has mutually supportive relationship and that they have a highly significant long-run equilibrium. The response of investment in education to economic growth impulse also reveals the conclusions above.
we use Markov regime-switching model to investigate the education investment and dynamic path of China’s business cycle. According to the result of estimation and test, we find that there are“low growth regime”,“suitable growth regime”and“fast growth regime”in education investment and China’s business cycle. Combining with the practical economy, we can get the result that there are some relationships between the policy mechanisms and the regimes of the education investment and China’s business cycle, and the education investment and the business cycle of China is asymmetry at some degrees. The empirical evidences also show that the fluctuations have become more stable, the duration have been more longer. These findings are very important to determine the combinations of economic policies and implementing of macroeconomic controls.
The education as the human capital development's fundamental mode, is long-standing promoting to the economy. Since the reform and open policy, the Chinese economic development has achieved the achievement which attracts worldwide attention, the doordinated and balanced program of development and the effective use to promotes the economic development also play the very vital role. In the era of knowledge economy, the economical development depends upon the knowledge more and more, the education takes the knowledge and the human resources Production department, is in the leading position in comprehensive national strength's formation, educates into the new economic growth is the knowledge economy inevitable trend. Education social economy benefit performance for various, is mainly educates the raise all levels of each kind of worker to play the role in the social product process, enables the economy to obtain the growth, the computation educates to the economic growth contribution, is in an economics of education difficulty. Many scholars use the different method to conduct the research, the main method has former Soviet Union's work short-cut method; American Schultz's educational return law, Dennison's factor analytic method. This festival attempts take our country various provinces as the object of study, through the establishment kneading board data model discussion between our country various provinces educational investment and economic growth's relations, discovered that the doordinated and balanced program of development and economic growth's relations are quite remarkable in our country, because the regional disparity creates the investment is imbalanced the economic growth scope which brings between various provinces also to have differently manifests. At the same time, this has also analyzed our country educational investment present situation, is mainly the amount of investment is insufficient, the structure of investment is unreasonable as well as the subject of investment is not very rich, these have restricted education's healthy development. Finally proposed the related policy suggested makes every effort to cause the educational investment to hasten reasonably, causes the education industry to obtain the unprecedented development.
首先,本文通过数理模型分析了在不同融资体制下的人力资本状况以及人力资本积累规律,并且通过计量模型对由于各省市教育投资不平等所带来的教育资本存量的不同进行分析。结果表明,改革开放以来,我国实施的教育扩展政策收效显著,人力资本水平普遍提升显著地改善了我国地区间教育获得的不平等状况。
其次,基于结构VAR模型对我国教育支出、平均工资以及经济增长序列之间的作用机制问题进行分析和测度,发现教育支出的持续增长会导致平均工资和GDP的持续增加,教育支出显著Granger影响经济增长和平均工资水平,平均收入和经济增长对我国教育投资支出的持久增长具有长期正向反应。
再次,通过运用马尔科夫区制转移模型研究并刻画我国教育投资与经济增长波动性的时间动态路径,发现我国教育投资以及经济增长都可以分为“低速增长”、“适速增长”、“高速增长”三个状态,目前我国教育投资增长率以及经济增长率波动均处于“适速增长”阶段,我国教育投资以及经济增长波动已经呈现出稳定性继续增强、持续期逐渐加长等重要特征。
最后,以我国各省为研究对象,通过建立面板数据模型探讨在我国各省教育投资与经济增长之间的关系,发现教育投入与经济增长的关系在我国还是比较显著,由于地区差异造成的投资不均衡带来的经济增长幅度不同在各省之间也有所体现。
The modern theory of economic growth is an important branch of economics, and economic growth is also an important symbol of receiving economic success. To achieve sustained and stable economic growth is always the goal of governments, thus economic growth has been a national study by economists focus of the issue.
Economic growth is the physical capital and human capital in terms of quantity and quality to improve. Physical capital and human capital not only between but also complement and promote each other. In the traditional theory of economic growth, economic growth plays a major role in promoting the investment in physical capital. On the basis of the evidence ,The human capital theory put forward in the 1960s has shown that the developed countries revive the economy not because of the basic physical capital investment, but because of its investment in human capital. Now a growing number of economists believe that through research, in the early stages of economic development, physical capital made a larger contribution to economic growth, but in the medium-term, economic growth was mainly due to investment in human capital. That is a national or regional economic development rather than depends on the ultimate determinant of its material resources, but it depends on human resources. As an important component of human capital, l investment in education is the main ways of human capital accumulation and growth.
Investment in education does not influence economic development directly, but it does have an impact on economic development indirectly through human beings. Education to economic development is to pass by two ways. On the one hand, education can make contribution to the optimization of human capital, particularly in improving labor productivity. In general, the more people educated, the more knowledge and skills these people will receive, and the easier and faster the work will be done. At the same time, they can be more accurate to complete more missions. From the labor market performance pay, we can determine the educated workforce as a result of the relatively high performance, which obtained more income. On the other hand, education can improve the socio-economic environment for the human beings to work and live, and then through optimizing the living environment, education will improve the quality of life and increase the productivity. For example, higher education will be the access to more stable marriage, and the people who have higher education will pay more attention to population quality of the next generation, and also will be pay more attention to the daily life; the education level will have a positive impact on the human beings’consumer behavior and asset management, and developed education is also conducive to reducing unemployment and crime.Because the quality of human resources have a great impact for economic development, and investment in education is the main core for the formation and accumulation of human capital, to increase investment in education, develop education and cultivate the talent social development needed is becoming more and more universal.
Investment in education through the accumulation of human capital and in turn affect economic growth. Human capital, economic growth is an important part of how investment in education to measure the accumulation of human capital, is a question worth considering. Through theoretical analysis of the mathematical model in different financial institutions under the state of human capital and human capital accumulation law and the adoption of model measures for the various provinces and cities as a result of investment in education inequalities brought about by the education of the capital stock of the different analysis, has been a series of The empirical results. Through the empirical analysis, we believe that reform and opening up, China's educational policy effect to expand significantly, raise the general level of human capital, universal compulsory education, higher education expansion, a significant improvement in China's inter-regional inequality of access to education. There is still a degree of regional differences, but in recent years, initial education, the greater the degree of inequality in the region, the degree of inequality also reduce the greater the initial level of inequality in education, the smaller the area, the rate of reduction in the degree of inequality The smaller, have shown a trend of convergence.
Based on 1952 to 2007 annual data,we use structural VAR model, Granger causality test,response of impact functions and variance decomposition,to test the effect of education expenditure growth to the average wage, as well as economic Growth. DF, and DF-GLS test results show that education expenditure, the average wage as well as the GDP series are non-stationary process.And the structural of the VAR equation parameters show that there are no structural changes of the educational expenditure,the average wage and GDP in China.By calculating the long-term response of the average wage and GDP on education expenditure, we find that education expenditure will lead to continued growth of average wages and GDP.Granger Causality Test results show that the education expenditure has significant impact on economic growth and the average wage level. Through the impulse response function, we can see that the response of economic growth and the average wage level to education expenditures lasted for 7 years and 9 years. Economic growth of variance decomposition shows that as time goes on, economic growth in the contribution to the variance is dwindling, and the average wage of contributions to the variance is enhanced. The average wage variance decomposition shows that the average wage of the variance in contribution is weakening.Therefore, the average income and the economic growth of China has a positive response of education expenditure growth.
In the fifth chapter, we study investment in education on economic growth mechanism. This chapter measure China's investment in education with the national financial expenditure on education, and measure China's economic growth with GDP. After unit root test, we make a regression analysis with investment as explanatory variable and GDP as dependent variable, and the result shows that in the 1952-2003 period investment in education on the role in promoting economic growth of about 22.62 percent. We can see that after implementing market-oriented economic system, investment in education to economic growth boost significantly enhanced. Education to economic growth in the size of the effect is very prominent, and education to economic growth can not be ignored. When measuring the contribution of investment in education to economic growth rate in the chapter, we use the determination on saving, investment and economic growth model made by Britain's Oxford University and the Massachusetts Institute of Technology Harold Thomas, and the results of calculations reveal that education has a significant promoting role in long-term growth of the national economy. The Granger-causality test and co-integration show that investment in education and economic growth has mutually supportive relationship and that they have a highly significant long-run equilibrium. The response of investment in education to economic growth impulse also reveals the conclusions above.
we use Markov regime-switching model to investigate the education investment and dynamic path of China’s business cycle. According to the result of estimation and test, we find that there are“low growth regime”,“suitable growth regime”and“fast growth regime”in education investment and China’s business cycle. Combining with the practical economy, we can get the result that there are some relationships between the policy mechanisms and the regimes of the education investment and China’s business cycle, and the education investment and the business cycle of China is asymmetry at some degrees. The empirical evidences also show that the fluctuations have become more stable, the duration have been more longer. These findings are very important to determine the combinations of economic policies and implementing of macroeconomic controls.
The education as the human capital development's fundamental mode, is long-standing promoting to the economy. Since the reform and open policy, the Chinese economic development has achieved the achievement which attracts worldwide attention, the doordinated and balanced program of development and the effective use to promotes the economic development also play the very vital role. In the era of knowledge economy, the economical development depends upon the knowledge more and more, the education takes the knowledge and the human resources Production department, is in the leading position in comprehensive national strength's formation, educates into the new economic growth is the knowledge economy inevitable trend. Education social economy benefit performance for various, is mainly educates the raise all levels of each kind of worker to play the role in the social product process, enables the economy to obtain the growth, the computation educates to the economic growth contribution, is in an economics of education difficulty. Many scholars use the different method to conduct the research, the main method has former Soviet Union's work short-cut method; American Schultz's educational return law, Dennison's factor analytic method. This festival attempts take our country various provinces as the object of study, through the establishment kneading board data model discussion between our country various provinces educational investment and economic growth's relations, discovered that the doordinated and balanced program of development and economic growth's relations are quite remarkable in our country, because the regional disparity creates the investment is imbalanced the economic growth scope which brings between various provinces also to have differently manifests. At the same time, this has also analyzed our country educational investment present situation, is mainly the amount of investment is insufficient, the structure of investment is unreasonable as well as the subject of investment is not very rich, these have restricted education's healthy development. Finally proposed the related policy suggested makes every effort to cause the educational investment to hasten reasonably, causes the education industry to obtain the unprecedented development.
引文
[1]贝克尔:人力资本[M]北京:北京大学出版社,1987。
[2]陈浩,薛声家“教育投入对中国区域经济增长贡献的计量分析”,《经济与管理》,2004年第10期。
[3]陈开华、聂国朝:我国教育体制改革的历程探析,《求实》,2004年第6期。
[4]杜鹏:基于基尼系数对中国学校教育差距状况的研究《,教育与经济》,2005年第3期。
[5]段宝霞:发达国家高等教育收费和资助综述,《教育探索》,2001年1期。
[6]范先佐:教育经济学[J] ,北京:人民教育出版社,1999,191-193。
[7]龚六堂、谢丹阳:我国省份之间的要素流动和边际生产率的差异分析,《经济研究》,2004年第1期。
[8]江小娟:我国出口增长与结构变化外商投资企业的贡献[J],《南开经济研究》,2002年第2期。
[9]靳希斌:教育经济学[J],北京:人民教育出版社,1997,89-90。
[10]李斯特:政治经济学的国民体系[J],上海:商务印书馆,1981,123-125。
[11]李小平、朱钟棣:国际贸易的技术溢出门槛效应——基于各地区的面板数据分析[J],《统计研究》,2004年第10期。
[12]廖楚晖,“政府教育投入对经济增长贡献的分析法”,《安徽大学学报》,2004年第5期。
[13]林荣日:教育经济学[M]上海:复旦大学出版社,2001。
[14]林素川:教育收费及其宏观调控,《教育评论》,1996年第1期。
[15]蔺丰奇:转变经济增长方式与资本的开发[J],《经济与管理》,1996 (4) ,160-162。
[16]刘海英、赵英才、张纯洪:人力资本“均化”与中国经济增长质量关系研究,《管理世界》,2004年第11期。
[17]刘金全、范剑青:中国经济周期的非对称性和相关性研究,《经济研究》,2001年第5期。
[18]刘金全、刘志刚:我国经济周期波动性与阶段性之间关联的非对称性检验,《统计研究》,2005年第8期。
[19]刘金全、王大勇:经济增长的阶段性假说和波动性溢出效应检验,《财经研究》,2003年第5期。
[20]秦宛顺,厉以宁:教育投资决策研究[J],北京:北京大学出版社,1992,23-30。
[21]沈坤荣,耿强:外国直接投资、技术外溢与内生经济增长——中国数据的计量检验与实证分析[J],《中国社会科学》,2004年第5期,82-93。
[22]舒尔茨:论人力资本投资[J],北京:经济学院出版社,1990:72-77。
[23]舒尔茨:论人力资本投资[M]北京:北京经济学院出版社,1990。
[24]舒元、才国伟:不同教育融资体制下的人力资本积累,《统计研究》,2007年第9期。
[25]王超,罗然然,“我国教育与经济增长的实证研究”,《统计与信息论坛》,2004年第7期。
[26]王浒:试论教育产业[J],《中国高教研究》,1999 (4),56-58。
[27]威廉·配第:政治算术[J],北京:商务印书馆,1981,12-17。
[28]吴方卫、张锦华:教育平等的地区分化与地区分化下的教育平等,《财经研究》,2005年第3期。
[29]吴玉珊“中国教育投资和经济增长关系的面板数据分析”《统计教育》,2006年第10期。
[30]熊彼特:《经济发展理论》,商务印书馆,何畏等译,1990。
[31]亚当·斯密:国民财富的性质和原因的研究。上海:商务印书馆,1981,257-258。
[32]亚当·斯密:国民财富的性质和原因的研究[J],上卷.上海:商务印书馆,1981,257-258。
[33]杨俊、李雪松:教育不平等、人力资本积累与经济增长:基于中国的实证研究,《数量经济技术经济研究》,2007年第2期。
[34]俞萍、吴正俊:从教育公平看教育体制改革,《经济体制改革》,2006年第5期。
[35]张军、吴桂英、张吉鹏:中国省际物质资本存量估算:1952—2000,《经济研究》,2004年第10期。
[36]张铁明:发展教育需要经济学觉醒。中国教育报(社会周刊),1999 (1)。
[37]赵秋成:教育投资社会收益率的估算方法及其实证分析[J],教育与经济,1999(1),46-49。
[1]Aghion, P. and Howitt, P., 1992. A Model of Growth through Creative Destruction. Econometrica, Econometric Society, 60(2), 323-351.
[2]Aghion, P. and Howitt, P., 1998. Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth. Journal of Economic Growth, 3, 111-130.
[3]Aghion, P. and Howitt, P., 1998. Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth. Journal of Economic Growth, 3, 111-130.
[4]Andrews, Donald W.K. (1993).“Tests for Parameter Instability and Structural Changewith Unknown Change Points.”Econometrica 61, 821–856.
[5]Andrews, Donald W.K., and Werner Ploberger (1994).“Optimal Tests when a Nuisance Parameter is Present Only Under the Alternative.”Econometrica 62, 1383–1414.
[6]Arrow, K. J., 1962. The economic implications of learning by doing. Economic Review, 29, 155~173.
[7]Arrow, K. J., 1962. The economic implications of learning by doing. Economic Review, 29, 155~173.
[8]Barro, R. J, and Lee, J. W., 1993. International comparisons of educational attainment. Journal of Monetary Economics, 32, 363~394.
[9]Barro, R. J, and Lee, J. W., 1993. International comparisons of educational attainment. Journal of Monetary Economics, 32, 363~394.
[10]Basu, S. and Weil, D., 1998. Appropriate Technology and Growth. Quarterly Journal of Economics, 113(4), 1025-1054.
[11]Becker, G. S., 1990. Murphy K.M. Human capital, fertility and economic growth. Journal of political economy, 98, 12~37.
[12]Becker, G·S·, 1975,Humancapital: Atheoretical and empirical analysis with special reference to education[M], Second Edition, New York, National Bureau of Economic Research.
[13]Benabou, R·, 1996,Equity and efficiency in human capital investment: The local connection [J], Review of Economic Studies, 62 (2), 237~264·
[14]Blanchard, Olivier J., and Danny Quah 1989.“The Dynamic Effects of Aggregate Demand and Supply Disturbances.”American Economic Review 79, 655–673.
[15]Burns, A. F., and W. C. Mitchell. Measuring Business Cycles. New York: National Bureau of Economic Research, 1946.
[16]Campbell, John Y., and Pierre Perron 1991.“Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots.”In NBER Macroeconomics Annual, edited by Olivier Jean Blanchard, and Stanley Fischer, pp. 141–201. Cambridge: MIT Press.
[17]Card,David,and Krueger,Alan B,Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States,Journal of Political Economic,Vol.100,pp.1—40,1992.
[18]David E. Rapach. 2003.“International Evidence on the Long-Run Impact of Inflation”. Journal of Money,Credit,and Banking 35, 23-48.
[19]Davidson, JEH, Hendry, DF, Srba, F., and Yeo, JS, Econometric modelling of the aggregate time-series relationship between consumers' expenditure and income in the United Kingdom, Economic Journal, 1978, 88, 661-692.
[20]Davidson, Russell, and James G. MacKinnon (1993). Estimation and Inference in Econometrics. New York: Oxford University Press.
[21]Dickey, David A., andWayne A. Fuller 1979.“Distribution of the Estimators for Autoregressive Time Series with a Unit Root.”Journal of the American Statistical Association 74, 427–431.
[22]Dinopoulos, E. and Thompsan, P., 1998. Schumpeterian Growth without Scale Effect. Journal of Economic Growth, 3, 313-335.
[23]Donald R.Deere and Jelena Vesovic,Educational Wage Premiums and the U.S. Income Distribution: A Survey, Handbook of the Economics of Education,Vol.1,2006(255—306).
[24]Elliott, Graham, Thomas J. Rothenberg, and James H. Stock 1996.“Efficient Tests for an Autoregressive Unit Root.”Econometrica 64, 813–836.
[25]Feder, G., 1983. On Exports and Economic Growth. Journal of Development Economics, 12, 59～73.
[26]Galor, Zeira, J, 1993,Income distribution and macroeconomics[J], Review of EconomicStudies, 60, 35~5.
[27]Gerhard Glomm, and B. Ravikumar, 1992, Public versus Private Investment in Human Capital: Endogenous Growth and Income Inequality,the Journal of Political Economy ,Vol.100, No.4, pp.818—834.
[28]Granger, C. W. J., Investigating causal relations by econometric models and cross-spectral methods, Econometrica, 1969, 37, 424-438.
[29]Gregorio, J·D and Lee, J·W·, 2002,Ducation and income distribution: New evidence from cross-country data[J], Review of Income and Wealth, 48, 395~416.
[30]Griliches, Z., 1990. Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature, 28, 1661-707.
[31]Grossman, G. M. and Helpman, E., 1991. Trade, Knowledge Spillovers, and Growth. European Economic Review, 35(April), S17-26.
[32]Grossman, G. M. and Helpman, E., 1991. Trade, Knowledge Spillovers, and Growth. European Economic Review, 35, S17-26.
[33]Hamilton, J. D. A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle. Econometrica, 1989, 57(2).
[34]Hansen, Bruce E. (2000).“Testing for structural change in conditional models.”Journal of Econometrics 97, 93–115.
[35]Johnes, J., 1997. Inter-university variations in undergraduate non-completion rates: A statistical analysis by subject of study. Journal of Applied Ecnomics.
[36]Jones, C. I., 1995. Introduction to Economic Growth, W.W.Norton &Company.
[37]Langea Fabian,and Topel Robert,2006,the Social Value of Education and Human Capital,Handbook of the Economics of Education,Vol.1,459—509.
[38]Leamer, E., and S. Potter. A Nonlinear Model of the Business Cycle. Manuscript, Federal Reserve Bank of New York, 2003.
[39]Li, Chol-Won, 2000. Endogenous vs. Semi Endogenous Growth in a Two-R&D Sector. Model, Economic Journal, 100, 109-122.
[40]Londono, Juan Luis, 1990,Kuznetsian Tales with Attention to Human Capita[C], Paper presented at the Third Inter-American Seminar in Economics, Rio de Janeiro, Brazil·
[41]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[42]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[43]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[44]Lucas,R.J.,1988,On theMechanics of Economic Development,Journal of Monetary Economics, Vol.22,pp.3—42.
[45]Maas, Jacob·Van and Lutsenburg, Ceert, Criel, 1982,Distributionof primary school enrollments in Eastern Africa World Bank Staff·Working Papers, No·511·The Word Bank, Washington D·C·
[46]Mincer, 1974,Schooling·Experience and earnings[M], Cambridge, National Bureau of Economic Research·
[47]Ortigueira, S.,2000. A dynamic analysis of an endogenous growth model with leisure. Economic Theory, 16(1), 43-62.
[48]Psacharopoulos, George and Arriagada, Ana-Maria, 1986,Theeducational attainment of the labor force: an international comparison[R], The World bank, Report No·EDT38·
[49]Ram, Rati, 1990,Educational Expansion and Schooling Inequality: international evidence and some implications[J], The Review of Economics and Statistics, 72 (2), 266~274·
[50]Ramey, G., 1995. Cross-county evidence on the link betreen volatility and growth. American Economic Review, 85(5), 1138-1151.
[51]Ramsey, F. P., 1928. A Mathematical Theory of Saving. Economic Journal, 38(152), 543-559.
[52]Roland Benabou, 1996, Heterogeneity, Stratification, and Growth: Macroeconomic Implications of Community Structure and School Finance,the American Economic Review,Vol.86,No.3 ,pp.584—609.
[53]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[54]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown”in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[55]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown”in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[56]Romer, P. M, 1986. Increasing Returns and Long-Run Growth. Journal of Political Economy, 9, 94-102.
[57]Romer, P. M, 1986. Increasing Returns and Long-Run Growth. Journal of Political Economy, 9, 94-102.
[58]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[59]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[60]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[61]Romer, P. M., 1998. Endogenous technological chang. Journal of Political Economy, 5, partⅡ, S71-S102.
[62]Romer, P. M., 1998. Endogenous technological chang. Journal of Political Economy, 5, partⅡ, S71-S102.
[63]Scherer, F. M., 1965. Corporate inventive output, profits, and growth. Journal of Political Economy, 73, 290-297.
[64]Schmookler, J., 1966. Invention and economic growth. Harvard University Press, Cambridge, MA.
[65]Segerstrom, P, 1998. Endogenous Growth Without Scale Effects. American Economic Review, 88, 1290-1310.
[66]Sichel, D. E. Inventories and the Three Phases of the Business Cycle. Journal of Business Economics and Statistics, 1994, (12).
[67]Skalin J., and T. Terasvirta. Another Look at Swedish Business Cycle, 1861—1988. Journal of Applied Econometrics, 1999, (14).
[68]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly Journalof Economics, 39, 38～46.
[69]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly JournalofEconomics, 39, 38～46.
[70]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly Journalof Economics, 39, 38～46.
[71]Summers,R. and A.Heston, 1994, Penn World Tables v5.6, Revision of Summers R. and A.Heston, 1991, The Penn World Table (Mark 5): An Expanded Set of International Comparisons,1950-1988, Quarterly Journal of Economics, 106, 327-68.
[72]Thomas,V.,Yan Wang and Xibo Fan, 2003,Measuring Education Inequality: Gini Coefficients of Education for140countries,1960-2000 [J], Journal of Education Planning and Administration,17 (1), 5~33·
[73]Tiao, G. C., and R. S. Tsay. Some Advances in Nonlinear and Adaptive Modeling in Time Series. Journal of Forecasting, 1994, (13).
[74]Uzawa, H., 1965. Optimal technical change in an aggregative model of economic growth. International Economic Review, 6, 18~31.
[75]Uzawa, H., 1965. Optimal technical change in an aggregative model of economic growth. International Economic Review, 6,18~31.
[76]Xiaolei Qian and Russell Smyth, 2005,Measuring Regional Inequality of Education in China: Widening Coast-Inland Gap or Widening Rural-Urban Gap? ABERU Discussion paper 12·
[77]Yang, X. 2000a. Economics: New Classical Versus Neoclassical Frameworks. Cambridge, MA, Blackwell.
[78]Yang, X. and Borland, J., 1991. A Microeconomic Mechanism for Economic Growth. Journal of Political Economy, 99, 460-482.
[79]Yang, X. and Sachs, J., 2000b. Development Economics: Inframarginal Versus Marginal Analyses. Cambridge, MA, Blackwell.
[80]Young, A., 1928. Increasing Returns and Economic Progress. The Economic Journal, 38, 527-542.
[81]Young, A., 1993. Lessons From The East Asian NICS, A Contrarian View, NBER Working paper.
[82]Young, A., 1998. Paasche vs. Laspeyres, the Elasiticity of Subsitution and Bias Measures of TFP Growth, NBER Working paper 6663.
[83]Young, A.,1991. Learning by Doing and the Dynamic Effects of International Trade. Quarterly Journal of Economics, 106, 309-405.
[2]陈浩,薛声家“教育投入对中国区域经济增长贡献的计量分析”,《经济与管理》,2004年第10期。
[3]陈开华、聂国朝:我国教育体制改革的历程探析,《求实》,2004年第6期。
[4]杜鹏:基于基尼系数对中国学校教育差距状况的研究《,教育与经济》,2005年第3期。
[5]段宝霞:发达国家高等教育收费和资助综述,《教育探索》,2001年1期。
[6]范先佐:教育经济学[J] ,北京:人民教育出版社,1999,191-193。
[7]龚六堂、谢丹阳:我国省份之间的要素流动和边际生产率的差异分析,《经济研究》,2004年第1期。
[8]江小娟:我国出口增长与结构变化外商投资企业的贡献[J],《南开经济研究》,2002年第2期。
[9]靳希斌:教育经济学[J],北京:人民教育出版社,1997,89-90。
[10]李斯特:政治经济学的国民体系[J],上海:商务印书馆,1981,123-125。
[11]李小平、朱钟棣:国际贸易的技术溢出门槛效应——基于各地区的面板数据分析[J],《统计研究》,2004年第10期。
[12]廖楚晖,“政府教育投入对经济增长贡献的分析法”,《安徽大学学报》,2004年第5期。
[13]林荣日:教育经济学[M]上海:复旦大学出版社,2001。
[14]林素川:教育收费及其宏观调控,《教育评论》,1996年第1期。
[15]蔺丰奇:转变经济增长方式与资本的开发[J],《经济与管理》,1996 (4) ,160-162。
[16]刘海英、赵英才、张纯洪:人力资本“均化”与中国经济增长质量关系研究,《管理世界》,2004年第11期。
[17]刘金全、范剑青:中国经济周期的非对称性和相关性研究,《经济研究》,2001年第5期。
[18]刘金全、刘志刚:我国经济周期波动性与阶段性之间关联的非对称性检验,《统计研究》,2005年第8期。
[19]刘金全、王大勇:经济增长的阶段性假说和波动性溢出效应检验,《财经研究》,2003年第5期。
[20]秦宛顺,厉以宁:教育投资决策研究[J],北京:北京大学出版社,1992,23-30。
[21]沈坤荣,耿强:外国直接投资、技术外溢与内生经济增长——中国数据的计量检验与实证分析[J],《中国社会科学》,2004年第5期,82-93。
[22]舒尔茨:论人力资本投资[J],北京:经济学院出版社,1990:72-77。
[23]舒尔茨:论人力资本投资[M]北京:北京经济学院出版社,1990。
[24]舒元、才国伟:不同教育融资体制下的人力资本积累,《统计研究》,2007年第9期。
[25]王超,罗然然,“我国教育与经济增长的实证研究”,《统计与信息论坛》,2004年第7期。
[26]王浒:试论教育产业[J],《中国高教研究》,1999 (4),56-58。
[27]威廉·配第:政治算术[J],北京:商务印书馆,1981,12-17。
[28]吴方卫、张锦华:教育平等的地区分化与地区分化下的教育平等,《财经研究》,2005年第3期。
[29]吴玉珊“中国教育投资和经济增长关系的面板数据分析”《统计教育》,2006年第10期。
[30]熊彼特:《经济发展理论》,商务印书馆,何畏等译,1990。
[31]亚当·斯密:国民财富的性质和原因的研究。上海:商务印书馆,1981,257-258。
[32]亚当·斯密:国民财富的性质和原因的研究[J],上卷.上海:商务印书馆,1981,257-258。
[33]杨俊、李雪松:教育不平等、人力资本积累与经济增长:基于中国的实证研究,《数量经济技术经济研究》,2007年第2期。
[34]俞萍、吴正俊:从教育公平看教育体制改革,《经济体制改革》,2006年第5期。
[35]张军、吴桂英、张吉鹏:中国省际物质资本存量估算:1952—2000,《经济研究》,2004年第10期。
[36]张铁明:发展教育需要经济学觉醒。中国教育报(社会周刊),1999 (1)。
[37]赵秋成:教育投资社会收益率的估算方法及其实证分析[J],教育与经济,1999(1),46-49。
[1]Aghion, P. and Howitt, P., 1992. A Model of Growth through Creative Destruction. Econometrica, Econometric Society, 60(2), 323-351.
[2]Aghion, P. and Howitt, P., 1998. Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth. Journal of Economic Growth, 3, 111-130.
[3]Aghion, P. and Howitt, P., 1998. Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth. Journal of Economic Growth, 3, 111-130.
[4]Andrews, Donald W.K. (1993).“Tests for Parameter Instability and Structural Changewith Unknown Change Points.”Econometrica 61, 821–856.
[5]Andrews, Donald W.K., and Werner Ploberger (1994).“Optimal Tests when a Nuisance Parameter is Present Only Under the Alternative.”Econometrica 62, 1383–1414.
[6]Arrow, K. J., 1962. The economic implications of learning by doing. Economic Review, 29, 155~173.
[7]Arrow, K. J., 1962. The economic implications of learning by doing. Economic Review, 29, 155~173.
[8]Barro, R. J, and Lee, J. W., 1993. International comparisons of educational attainment. Journal of Monetary Economics, 32, 363~394.
[9]Barro, R. J, and Lee, J. W., 1993. International comparisons of educational attainment. Journal of Monetary Economics, 32, 363~394.
[10]Basu, S. and Weil, D., 1998. Appropriate Technology and Growth. Quarterly Journal of Economics, 113(4), 1025-1054.
[11]Becker, G. S., 1990. Murphy K.M. Human capital, fertility and economic growth. Journal of political economy, 98, 12~37.
[12]Becker, G·S·, 1975,Humancapital: Atheoretical and empirical analysis with special reference to education[M], Second Edition, New York, National Bureau of Economic Research.
[13]Benabou, R·, 1996,Equity and efficiency in human capital investment: The local connection [J], Review of Economic Studies, 62 (2), 237~264·
[14]Blanchard, Olivier J., and Danny Quah 1989.“The Dynamic Effects of Aggregate Demand and Supply Disturbances.”American Economic Review 79, 655–673.
[15]Burns, A. F., and W. C. Mitchell. Measuring Business Cycles. New York: National Bureau of Economic Research, 1946.
[16]Campbell, John Y., and Pierre Perron 1991.“Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots.”In NBER Macroeconomics Annual, edited by Olivier Jean Blanchard, and Stanley Fischer, pp. 141–201. Cambridge: MIT Press.
[17]Card,David,and Krueger,Alan B,Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States,Journal of Political Economic,Vol.100,pp.1—40,1992.
[18]David E. Rapach. 2003.“International Evidence on the Long-Run Impact of Inflation”. Journal of Money,Credit,and Banking 35, 23-48.
[19]Davidson, JEH, Hendry, DF, Srba, F., and Yeo, JS, Econometric modelling of the aggregate time-series relationship between consumers' expenditure and income in the United Kingdom, Economic Journal, 1978, 88, 661-692.
[20]Davidson, Russell, and James G. MacKinnon (1993). Estimation and Inference in Econometrics. New York: Oxford University Press.
[21]Dickey, David A., andWayne A. Fuller 1979.“Distribution of the Estimators for Autoregressive Time Series with a Unit Root.”Journal of the American Statistical Association 74, 427–431.
[22]Dinopoulos, E. and Thompsan, P., 1998. Schumpeterian Growth without Scale Effect. Journal of Economic Growth, 3, 313-335.
[23]Donald R.Deere and Jelena Vesovic,Educational Wage Premiums and the U.S. Income Distribution: A Survey, Handbook of the Economics of Education,Vol.1,2006(255—306).
[24]Elliott, Graham, Thomas J. Rothenberg, and James H. Stock 1996.“Efficient Tests for an Autoregressive Unit Root.”Econometrica 64, 813–836.
[25]Feder, G., 1983. On Exports and Economic Growth. Journal of Development Economics, 12, 59～73.
[26]Galor, Zeira, J, 1993,Income distribution and macroeconomics[J], Review of EconomicStudies, 60, 35~5.
[27]Gerhard Glomm, and B. Ravikumar, 1992, Public versus Private Investment in Human Capital: Endogenous Growth and Income Inequality,the Journal of Political Economy ,Vol.100, No.4, pp.818—834.
[28]Granger, C. W. J., Investigating causal relations by econometric models and cross-spectral methods, Econometrica, 1969, 37, 424-438.
[29]Gregorio, J·D and Lee, J·W·, 2002,Ducation and income distribution: New evidence from cross-country data[J], Review of Income and Wealth, 48, 395~416.
[30]Griliches, Z., 1990. Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature, 28, 1661-707.
[31]Grossman, G. M. and Helpman, E., 1991. Trade, Knowledge Spillovers, and Growth. European Economic Review, 35(April), S17-26.
[32]Grossman, G. M. and Helpman, E., 1991. Trade, Knowledge Spillovers, and Growth. European Economic Review, 35, S17-26.
[33]Hamilton, J. D. A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle. Econometrica, 1989, 57(2).
[34]Hansen, Bruce E. (2000).“Testing for structural change in conditional models.”Journal of Econometrics 97, 93–115.
[35]Johnes, J., 1997. Inter-university variations in undergraduate non-completion rates: A statistical analysis by subject of study. Journal of Applied Ecnomics.
[36]Jones, C. I., 1995. Introduction to Economic Growth, W.W.Norton &Company.
[37]Langea Fabian,and Topel Robert,2006,the Social Value of Education and Human Capital,Handbook of the Economics of Education,Vol.1,459—509.
[38]Leamer, E., and S. Potter. A Nonlinear Model of the Business Cycle. Manuscript, Federal Reserve Bank of New York, 2003.
[39]Li, Chol-Won, 2000. Endogenous vs. Semi Endogenous Growth in a Two-R&D Sector. Model, Economic Journal, 100, 109-122.
[40]Londono, Juan Luis, 1990,Kuznetsian Tales with Attention to Human Capita[C], Paper presented at the Third Inter-American Seminar in Economics, Rio de Janeiro, Brazil·
[41]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[42]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[43]Lucas, R. E., 1988.On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-24.
[44]Lucas,R.J.,1988,On theMechanics of Economic Development,Journal of Monetary Economics, Vol.22,pp.3—42.
[45]Maas, Jacob·Van and Lutsenburg, Ceert, Criel, 1982,Distributionof primary school enrollments in Eastern Africa World Bank Staff·Working Papers, No·511·The Word Bank, Washington D·C·
[46]Mincer, 1974,Schooling·Experience and earnings[M], Cambridge, National Bureau of Economic Research·
[47]Ortigueira, S.,2000. A dynamic analysis of an endogenous growth model with leisure. Economic Theory, 16(1), 43-62.
[48]Psacharopoulos, George and Arriagada, Ana-Maria, 1986,Theeducational attainment of the labor force: an international comparison[R], The World bank, Report No·EDT38·
[49]Ram, Rati, 1990,Educational Expansion and Schooling Inequality: international evidence and some implications[J], The Review of Economics and Statistics, 72 (2), 266~274·
[50]Ramey, G., 1995. Cross-county evidence on the link betreen volatility and growth. American Economic Review, 85(5), 1138-1151.
[51]Ramsey, F. P., 1928. A Mathematical Theory of Saving. Economic Journal, 38(152), 543-559.
[52]Roland Benabou, 1996, Heterogeneity, Stratification, and Growth: Macroeconomic Implications of Community Structure and School Finance,the American Economic Review,Vol.86,No.3 ,pp.584—609.
[53]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[54]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown”in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[55]Romer ,P. M., 1987. Crazy Explanations for the Productivity Slowdown”in NBER. Macroeconomics Annual, ed. By Stanly Fisher(Cambridge, Massachusetts: MIT Press), 163-202.
[56]Romer, P. M, 1986. Increasing Returns and Long-Run Growth. Journal of Political Economy, 9, 94-102.
[57]Romer, P. M, 1986. Increasing Returns and Long-Run Growth. Journal of Political Economy, 9, 94-102.
[58]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[59]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[60]Romer, P. M., 1990. Endogenous technological change. Journal of Political Economy, 98, 71~102.
[61]Romer, P. M., 1998. Endogenous technological chang. Journal of Political Economy, 5, partⅡ, S71-S102.
[62]Romer, P. M., 1998. Endogenous technological chang. Journal of Political Economy, 5, partⅡ, S71-S102.
[63]Scherer, F. M., 1965. Corporate inventive output, profits, and growth. Journal of Political Economy, 73, 290-297.
[64]Schmookler, J., 1966. Invention and economic growth. Harvard University Press, Cambridge, MA.
[65]Segerstrom, P, 1998. Endogenous Growth Without Scale Effects. American Economic Review, 88, 1290-1310.
[66]Sichel, D. E. Inventories and the Three Phases of the Business Cycle. Journal of Business Economics and Statistics, 1994, (12).
[67]Skalin J., and T. Terasvirta. Another Look at Swedish Business Cycle, 1861—1988. Journal of Applied Econometrics, 1999, (14).
[68]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly Journalof Economics, 39, 38～46.
[69]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly JournalofEconomics, 39, 38～46.
[70]Solow, R. M., 1956. A Contribution to Theory of Economic Growth. Quarterly Journalof Economics, 39, 38～46.
[71]Summers,R. and A.Heston, 1994, Penn World Tables v5.6, Revision of Summers R. and A.Heston, 1991, The Penn World Table (Mark 5): An Expanded Set of International Comparisons,1950-1988, Quarterly Journal of Economics, 106, 327-68.
[72]Thomas,V.,Yan Wang and Xibo Fan, 2003,Measuring Education Inequality: Gini Coefficients of Education for140countries,1960-2000 [J], Journal of Education Planning and Administration,17 (1), 5~33·
[73]Tiao, G. C., and R. S. Tsay. Some Advances in Nonlinear and Adaptive Modeling in Time Series. Journal of Forecasting, 1994, (13).
[74]Uzawa, H., 1965. Optimal technical change in an aggregative model of economic growth. International Economic Review, 6, 18~31.
[75]Uzawa, H., 1965. Optimal technical change in an aggregative model of economic growth. International Economic Review, 6,18~31.
[76]Xiaolei Qian and Russell Smyth, 2005,Measuring Regional Inequality of Education in China: Widening Coast-Inland Gap or Widening Rural-Urban Gap? ABERU Discussion paper 12·
[77]Yang, X. 2000a. Economics: New Classical Versus Neoclassical Frameworks. Cambridge, MA, Blackwell.
[78]Yang, X. and Borland, J., 1991. A Microeconomic Mechanism for Economic Growth. Journal of Political Economy, 99, 460-482.
[79]Yang, X. and Sachs, J., 2000b. Development Economics: Inframarginal Versus Marginal Analyses. Cambridge, MA, Blackwell.
[80]Young, A., 1928. Increasing Returns and Economic Progress. The Economic Journal, 38, 527-542.
[81]Young, A., 1993. Lessons From The East Asian NICS, A Contrarian View, NBER Working paper.
[82]Young, A., 1998. Paasche vs. Laspeyres, the Elasiticity of Subsitution and Bias Measures of TFP Growth, NBER Working paper 6663.
[83]Young, A.,1991. Learning by Doing and the Dynamic Effects of International Trade. Quarterly Journal of Economics, 106, 309-405.
© 2004-2018 中国地质图书馆版权所有 京ICP备05064691号 京公网安备11010802017129号 地址：北京市海淀区学院路29号 邮编：100083 电话：办公室：(+86 10)66554848；文献借阅、咨询服务、科技查新：66554700 |