Research on the Impact of Higher Education Financial Expenditures on Sustainable Economic Development from a Green Total Factor Productivity Perspective

Guided by the goal of “double carbon,” China's economy is transitioning towards innovation-driven development and quality improvement. As a strategic intersection of technology, talent and innovation, higher education plays a key role in improving green total factor productivity and promoting sustainable economic development. Financial expenditure on higher education can effectively improve green total factor productivity and promote sustainable economic development. Mechanism analysis shows that the reform can improve green total factor productivity through two channels: human capital effects and green technology R&D and industrial transformation support. Finally, this paper puts forward suggestions on the mechanism of action, providing policy inspiration for subsequent improvement of green total factor productivity and promotion of sustainable economic development.