改革开放以来，我国人力资本的快速积累，不仅得益于政府公共财政教育支出的持续扩大，还得益于家庭教育投资的不断增加。家庭教育投资除了受到家庭特征、宏观经济和政策变化的影响外，还可能会受到社会发展阶段性特征的影响。当前，我国正处于新发展阶段，数字基础设施的持续发展是该阶段的显著特征之一。作为数字经济的基石和支撑，数字基础设施建设对于经济社会的促进作用已被广泛验证。那么，数字基础设施建设是否能进一步促进家庭教育投资水平的增加？这是个值得探讨的问题，兼具理论和现实意义。

本文首先借鉴人力资本理论和新古典家庭理论，构建了一个跨期家庭教育决策模型，通过将数字基础设施作为要素引入模型，推导出数字基础设施对家庭教育投资的影响机制。进一步，本文利用2016年“国家大数据综合试验区”设立这一政策冲击，基于2012-2020年5期CFPS数据和中国城市面板数据，构建双重差分模型探究了数字基础设施建设对家庭教育投资的影响作用。本文的研究表明：第一，大数据试验区的设立显著提高了家庭教育投资水平，尤其是校外教育投资水平。相较于非试验区，数字基础设施建设使得试验区的家庭教育投资水平平均上升了46.56%，这一结论在经过平行趋势检验、安慰剂检验、PSM-DID等一系列稳健性检验后依旧成立。第二，大数据试验区的设立一方面能够通过增加家庭收入、缓解家庭借贷来提高家庭教育投资；另一方面也能通过提高家庭教育期望和父母对子女教育的关注程度来增加父母对子女的教育投资。第三，大数据试验区的设立有利于促进城镇家庭、中高等学历家庭以及高社会资本家庭的教育投资水平，但对乡村家庭、初等学历家庭以及低社会资本家庭的促进作用不明显。第四，在市场化水平较高的地区、儒家文化浓厚的地区以及初始数字化条件较好的地区，大数据试验区对家庭教育投资的促进作用更加明显。本文为更好的理解数字化发展背景下家庭教育投资的变化，以及更加全面的评价数字基础设施对教育方面的影响作用奠定了基础。同时也为政府部门持续推进数字基础设施建设，合理引导家庭教育观念，促进家庭教育投资增加，从而实现教育高质量发展和人力资本快速积累提供了依据。

改革开放以来，我国人力资本的快速积累，不仅得益于政府公共财政教育支出的持续扩大，还得益于家庭教育投资的不断增加。家庭教育投资除了受到家庭特征、宏观经济和政策变化的影响外，还可能会受到社会发展阶段性特征的影响。当前，我国正处于新发展阶段，数字基础设施的持续发展是该阶段的显著特征之一。作为数字经济的基石和支撑，数字基础设施建设对于经济社会的促进作用已被广泛验证。那么，数字基础设施建设是否能进一步促进家庭教育投资水平的增加？这是个值得探讨的问题，兼具理论和现实意义。

本文首先借鉴人力资本理论和新古典家庭理论，构建了一个跨期家庭教育决策模型，通过将数字基础设施作为要素引入模型，推导出数字基础设施对家庭教育投资的影响机制。进一步，本文利用2016年“国家大数据综合试验区”设立这一政策冲击，基于2012-2020年5期CFPS数据和中国城市面板数据，构建双重差分模型探究了数字基础设施建设对家庭教育投资的影响作用。本文的研究表明：第一，大数据试验区的设立显著提高了家庭教育投资水平，尤其是校外教育投资水平。相较于非试验区，数字基础设施建设使得试验区的家庭教育投资水平平均上升了46.56%，这一结论在经过平行趋势检验、安慰剂检验、PSM-DID等一系列稳健性检验后依旧成立。第二，大数据试验区的设立一方面能够通过增加家庭收入、缓解家庭借贷来提高家庭教育投资；另一方面也能通过提高家庭教育期望和父母对子女教育的关注程度来增加父母对子女的教育投资。第三，大数据试验区的设立有利于促进城镇家庭、中高等学历家庭以及高社会资本家庭的教育投资水平，但对乡村家庭、初等学历家庭以及低社会资本家庭的促进作用不明显。第四，在市场化水平较高的地区、儒家文化浓厚的地区以及初始数字化条件较好的地区，大数据试验区对家庭教育投资的促进作用更加明显。本文为更好的理解数字化发展背景下家庭教育投资的变化，以及更加全面的评价数字基础设施对教育方面的影响作用奠定了基础。同时也为政府部门持续推进数字基础设施建设，合理引导家庭教育观念，促进家庭教育投资增加，从而实现教育高质量发展和人力资本快速积累提供了依据。

Since the reform and opening up, the rapid accumulation of human capital in our country not only benefits from the continuous expansion of government public financial expenditure on education, but also benefits from the continuous increase of family education investment. In addition to family characteristics, macroeconomic and policy changes, family education investment may also be affected by the characteristics of social development stage. At present, our country is in a new stage of development, and the continuous development of digital infrastructure is one of the remarkable features of this stage. As the cornerstone and support of the digital economy, the promotion role of digital infrastructure construction for the economy and society has been widely verified. So, can the construction of digital infrastructure further promote the increase in the level of investment in family education? This is a question worthy of discussion, both theoretical and practical significance.

This paper first draws on human capital theory and neoclassical family theory, constructs an intertemporal family education decision model, introduces digital infrastructure as a factor in the model, and deduces the impact mechanism of digital infrastructure on family education investment. Further, using the policy impact of the establishment of the "National Big Data Comprehensive Pilot Zone" in 2016, based on the CFPS data of the 5th period from 2012 to 2020 and the panel data of Chinese cities, this paper constructs a differentially differential model to explore the impact of digital infrastructure construction on family education investment. The research of this paper shows that: First, the establishment of the big data pilot area has significantly enhanced family education investment levels, especially the level of out-of-school education investment. Compared with non-experimental areas, the construction of digital infrastructure increased the level of family education investment in experimental areas by 46.56% on average, even after subjecting it to a battery of robustness tests including the parallel trend test, placebo test, and PSM-DID, this conclusion remains established. Second, on the one hand, the establishment of big data pilot zones can increase family education investment by increasing household income and easing household borrowing; On the other hand, it can also increase parents' investment in children's education by raising family education expectation and parents' attention to their children's education. Third, the establishment of the big data pilot zone is conducive to promoting the level of education investment of urban families, middle and higher education families and high social capital families, but the promotion effect of rural families, primary education families and low social capital families is not obvious. Fourth, in areas with higher marketization level, areas with strong Confucian culture and areas with better initial digital conditions, big data pilot areas have a more obvious role in promoting family education investment. This paper lays the foundation for a better understanding of the changes in family education investment in the context of digital development, and a more comprehensive evaluation of the impact of digital infrastructure on education. At the same time, it also provides a basis for government departments to continue to promote the construction of digital infrastructure, rationally guide the concept of family education, and promote an overall increase in investment in family education , so as to realize the high-quality development of education and the rapid accumulation of human capital.