The Long-Term Effects of County-Level Educational Spending on Individual's Educational Outcomes
To examine the long-term effects of government educational expenditure on indi-vidual's educational attainments,this study combines the micro-level survey data from CHIP2013 with the macro-level educational expenditure data spanning the years 1996 to 2002.Instrumental variable(Ⅳ)estimations reveal that county-level per-pupil educational expendi-ture has positive effects on individual's years of education and on the probability of completing higher education and high school education,but does not affect the completion of compulsory ed-ucation.Heterogeneity analysis demonstrates that the long-term effects are particularly pro-nounced among females and individuals who received their education in non-poor counties.This finding suggests that the mechanism behind these effects may be attributed to the tendency of poor counties to prioritize material resources over teachers'salaries in terms of educational expendi-ture.