Research On The Influencing Factors Of Rural Public Infrastructure Investment

Since the reform and opening up, China's rural economy has presented a high-speed growth state. As of 2014, China's gross domestic product(GDP) growth as much as 173 times more than in 1978, the average annual gross domestic product reached 15.4%. But as each region's natural endowment is different, after entering the 21 st century, China's regional economy presents a state that the eastern region's economy is more developed, the central region is second, the western region is slowest.In this context, rural public infrastructure investment's problem of China gradually highlighted, including the regional differences of the investment, which performances that the eastern region has more investment and stock, the central region is second and the most weak is the western region; including the investment structure, which the rural public infrastructure investment is more inclined to the management of major rivers, neglect to improve agricultural production conditions and living conditions of farmers, etc. These problems showed in rural public infrastructure investment, may not only affect the balanced development of regional economy, but also trigger social conflicts between areas, increasing social unrest.After entering the 21 st century, the government has also increased the investment in rural infrastructure with the development of economy. Since 2004, each year' No. 1 Document of Chinese Central Government are to strengthen the construction of agriculture and rural infrastructure as the important measure for promoting the development of the rural economy. After implemented, do these measures show a good effect? What factors may influence the rural public infrastructure investment? How these factors influence? And which aspects should the government make efforts in? In view of the above problem, this paper based on the rural public infrastructure investment related theory, public products theory, equity theory, using the Gini coefficient analysis, the grey correlation model, the panel data model and the H-P filter analysis, analyzes the influencing factors and mechanisms of rural public infrastructure investment, and then this paper based on the conclusion of the empirical analysis puts forward the corresponding policy recommendations.This paper is divided into five parts, and the main research contents are as follows:The first part is introduction which introduces the purpose and significance of the research, the progress both at home and abroad of the research, and the research's contents and methods of this article.The second part is the related theory of the rural public infrastructure investment. This part mainly introduces the related concepts and theoretical basis. Specific include: public infrastructure, investment, public products theory, equity theory, etc.The third part theoretical analyses the influencing factors and mechanisms of rural public infrastructure investment. This part mainly explores the factors affecting rural public infrastructure investment from the aspects of theory. Finally, this part classifies the influencing factors into economic factors, political factors and other factors. Economic factors include economic development level, the fiscal and taxation systems, the infrastructure investment of previous period, rural population density, per capita net income of rural residents, economic system construction, etc. Political factors include governmental governance and policy decision-making mechanism, etc. Other factors include natural resources, cultural differences and other factors. And then this paper analyzes the influencing mechanisms of these factors and divides these mechanisms into supply side, demand side and other aspects.s of the influencing factors of rural public infrastructure investment. According to the influencing factors that have been selected, this article chooses the nationwide and provincial level data of rural public infrastructure investment from 1992 to 2011. Descriptive analysis is in the first place in order to study the changes of rural infrastructure investment in China. And then this part studies the effect size of various kinds of influencing factors of rural infrastructure investment, using the grey correlation analysis and panel data analysis. Finally, using the H-P filtering analysis, this part explores the government behavior factors on the role of rural public infrastructure investment in China. Analysis found that:(1) China's per capita rural public infrastructure investment presents the increasing trend year by year.(2) Rural public infrastructure investment's regional differences in general have gradually decreased, but the differences are still very obvious.(3) The improvement of regional economic strength has a strong role in promoting rural public infrastructure investment.(4) Government tends to invest more infrastructure to densely populated rural areas.(5) Our country's rural public infrastructure investment has certain sustainability.(6) Per capita net income of farmers may be "substitution effect" for government investment.(7)Rural infrastructure investment has been influenced by the government agencies for the adjustment of the transition. In the certain stage of the government service's transition, in order to show their level of management, local governments will invest to the aspects which are easy to show the "performance" of infrastructure.Finally, the fifth part makes a summary of the influencing factors and mechanisms of rural public infrastructure investment according to the result of previous analysis. And then this part puts forward policy suggestions in terms of supply and local economic strength.