Research on the relationship between investment in preschool education and economic growth in Chongqing

This paper uses cointegration test and vector error correction model to study the impact of preschool education investment in Chongqing on GDP from two aspects: long-term equilibrium and short-term dynamics. The results show that although the two series are non-stationary from 1997 to 2019, there is a long-term stable equilibrium relationship, as well as a twoway causal relationship, between them. The long-term elasticity of Chongqing’s preschool education investment to the city’s GDP is 0.515, and the short-term elasticity is −0.035. The impulse response function explains the dynamic impact of a shock on Chongqing’s preschool education investment, as well as on the long-term and short-term relationship between the two.