Study On Chinese Infrastructure Investment And Its Economic Influence

Infrastructure investment has the important effect on the national economy, and it is the base of the national economy development. The paper aiming at the Chinese infrastructure investment investigates systemically the scale and the structure of Chinese infrastructure investment and its main body of the investment, furthermore it measures the effect on economy, resident consumption and private non-infrastructure capital investment of infrastructure investment. Firstly the paper analyzes the different definitions of infrastructure investment by domestic and overseas scholars, then defines the scope of Chinese infrastructure, which is broad sense infrastructure. Next it analyzes both the sort and the characteristic of infrastructure investment, and the way of affording in theory. By the quantitative and qualitative way of analysis, the paper describes systemically the scale and the structure of Chinese infrastructure investment, besides it points out their problem. By the ECM model, the paper depicts the pull effects of infrastructure investment towards the economy. And by the trans-temporal microcosmic economy model and econometric model, the paper draws the conclusion that the infrastructure investment has the crowding-in or crowding-out effect on the resident consumption and private non-infrastructure capital investment, moreover it measures the effect on economy,resident consumption and private non-infrastructure capital investment of infrastructure investment. The conclusions have the important practical signification to evaluate the performance of infrastructure investment. The results show that the infrastructure investment has a positive pull effects to economy, but the performance is not strong. And the infrastructure investment has a positive pull effects to the private non-infrastructure capital investments and resident consumption. However, it has a stronger pull effects on the former one than the latter.