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Abstract Based on the growth framework of M‐R‐W, this paper uses panel fixed effect and dynamic space Dubin model to analyze the impact of Chinese education investment on economic growth and spatial effects of education investment for 31 province‐level regions in China from 2008 to 2016. The results reveal the following findings: First, the role of education investment in China's economic growth is limited, and the role of education investment in economic growth is quite different in different economic regions. Changes in per capita education investment only have a significant impact on economic growth in the Yangtze River Delta, Northeast China, and Northwest China. Second, when education investment affects economic growth, there is an inverted U‐shaped Kuznets curve. The effect of education investment reflected by human capital on economic growth is lower than that of physical capital. Third, there is a positive spatial agglomeration effect on the spatial distribution of educational investment in various regions of China, but the effect is weak. Fourth, the spatial spillover effect of educational investment is greater than the direct effect. In other words, the economic growth effect of educational investment in a certain region is lower than that of other regions.
Su et al. (Wed,) studied this question.