Emprical Research On The Effect Of Fixed Assets Investment Structure On Pollutant Emission

China has a long history of promoting economic development through investment.In recent years,China's economic growth has been in the forefront,the amount of investment in fixed assets has continued to rise.In 2004,total fixed asset investment in China more than 7 trillion yuan,as of 2013,has grown to nearly 39 trillion yuan.China has experienced rapid growth of investment in fixed assets of 10 years,the trend of growth is slowing,but it is still at a high level.Investment growth in addition to driving the economic development,but also brings the problem.For example,the volume of industrial exhaust gas emissions from 237696 billion cubic meters(2004)to 669361 billion cubic meters(2013)has brought irreparable damage to the natural environment.The correlation coefficient between fixed asset investment and industrial emissions is 0.958,indicating that there is a high correlation between them.Most of the existing literature research relationship between total investment and pollutant emissions,there is little literature between fixed asset investment structural and industrial exhaust gas emissions.For verifying if the investment increased pollution discharge load and the different impact of investment structure on industrial exhaust gas,according to a spatial panel model,the article focus on the empirical analysis about the effect of the total investment growth and structure difference to the industrial exhaust gas emissions in China's 31 provinces from 2004 to 2013.Based on it,the article make a test on industrial exhaust gas emissions spatial correlation and finds the industrial exhaust gas emissions have a significant spatial spillover among the inter-provinces and also form a "high-high" agglomeration in some regions.Subsequently,using spatial panel model analysis found that between fixed assets investment and the total emission of industrial exhaust gas do not present a simple linear relationship,there is a significant inverse "U" relationship between industrial exhaust gas emissions and total investment.That industrial emission with the rise in gross fixed investment increased first and decreased then.From the structural views,different structures of investment in fixed assets have different effects:compared with the state-owned investment,non-state-owned investment is the primary cause leading to the emissions;the local investment has a significant influence to emissions;the different scale of investments have no significant impact on industrial exhaust gas emissions.