Abstract: The past 40 years of reform and opening up has witnessed remarkable achievements in the basic education in China. As one of the public services,the basic education develops in a dynamic process,in which the financial input is not only the guarantee of education development,but also the important premise of realizing education equity. Under the convergence hypothesis of neoclassical economic growth theory,this paper makes an empirical analysis of the spatial dynamic convergence of basic education finance based on the panel data of 31 provinces,municipalities and autonomous regions in China from 2010 to 2016. The main conclusions are as follows: firstly,there is no obvious-convergence and absolute -convergence in basic education as a whole or in all types of education,but the possibility still exists for the convergence of educational financial investment in the future,which can be used as a preliminary judgment to support further empirical research;secondly,it is found that financial investment in basic education has a spatial correlation and spillover effect,which constructs a spatial dynamic conditional -convergence model. The results show that after adding regional heterogeneity and spatial factors,the convergence of financial investment in basic education and various types of education will be significant. Meanwhile,the spatial spillover effect will increase with the improvement of educational level. Comparatively speaking,the convergence of educational finance is best in compulsory education stage,good in senior high school stage,and unsatisfied in preschool education stage,which should be balanced and the convergence rate be strengthened. In view of this,we should further balance financial investment in pre-school education,maintain or improve the regional balanced level of compulsory education and general high school investment at the present stage,and then form the structural balance of the overall development of basic education. In addition,we need to pay attention to the interregional interaction and maximize the advantages brought by the regional linkage effect.

Key words: basic education equity, convergence, educational finance investment, spatial dynamic correlation