Empirical Research Of Infrastructure Investment’s Impact On Service Trade Structure

Since reform and opening up, infrastructure level of China has achieved great-leap-forward development, the actual average growth rate of which has almost reached9.8%, and so far the total size of infrastructure has ranked the second and the information infrastructure has ranked the first in the world, all accelerating the current economic growth. In the same period, thanks to the rapid development of transportation, information, communication technologies and their related infrastructure, tradeabiliry of service is greatly enhanced, bringing up the remarkable performance of Chinese service trade and making its export scale in2010the fourth. But meanwhile service trade structure of China still seems relatively low-end and the optimizing speed and international competitiveness have been always inferior than the world’s average level. Thus based on the the fact that infrastructure and the development of service trade had close relationship and the policy background that a large number of infrastructure investment will be made in recent years, there will undoubtedly be of great practical significance in actively exploring how to strengthen scientifically generalized infrastructure investment to impact the optimization of service trade structure.Theoretically based on factor endowments theory and dynamic comparative advantage theory, the paper included factor accumulation effects caused by generalized infrastructure investment into H. Oniki and H Uzawa’ analytical framework(1965) and Leamer triangular model, exploring the mechanism and the path of infrastructure investment’s impact on the service trade structure from the angle of high-level factor endowments’ dynamic change.Empirically, make transverse and longitudinal statistical analysis of the present situation of Chinese service trade structure by a number of indicators,accurately measuring the current location of service trade structure in world and fluctuation amplitude. Then build a dynamic panel-data model and use sys-GMM two-step method to quantitatively analysize panel data by the80countries of different income levels and their sub-groups from1996to2010. The results were found that economic infrastructure such as transport, energy and communication infrastructure variables have significantly positive correlation with service trade structure;in social infrastructure variable, R&D infrastructure has a positive correlation, but health-care, education and environmental protection infrastructure have negative correlation, and meanwhile they all have significant lag effect; import trade is conducive to optimization of service trade structure, and foreign direct investment and the development level of service industry had no significant effect. In different countries of different income levels, different infrastructure investment’impact on service trade structure are different.Finally, the paper combined the conclusions of Chinese service trade structure’status and empirical analysis and then targeted four suggestions to the point about the optimization problem of Chinese service trade structure from the angles of the generalized infrastructure investment, foreign direct investment and the domestic service industry, hoping to contribute to China’s trade development mode’s transformation and upgrading and continually steady growth of China’s economy.