The Empirical Research Of Urban Infrastructure Investment Impact On Urban Residents' Consumption

The international market is showing a trend of depression Under the impact of the global financial crisis since 2008.In order to get rid of the impact of the global economic crisis,China began to change the mode of economic development and gradually reduce dependence on exports to domestic demand to stimulate economic growth.China's economy has entered a new normal economic growth has declined.The traditional investment model leads to overcapacity.Therefore,the growth driven by investment turns to the growth driven by consumption to overcome the excessive dependence on investment.As we see,the degree of consumption to the national economy is still insufficient,and the increase of per capita income does not bring the same level of consumption.To stimulate the domestic consumption demand effectively,the consumption of residents must be increased.To increase consumption,we must attach importance to the role of infrastructure construction because infrastructure is the basis of national economic development,with the continuous improvement of the level of economic development,the higher the demand for infrastructure.The improvement of infrastructure can not only improve the production and living conditions of residents,but also help to improve the income and consumption level of residents.In this paper,the impact of urban infrastructure investment on the consumption of urban residents is empirically studied.Based on the existing theoretical research results,quantitative analysis is carried out on the basis of qualitative analysis.Panel data of 28 provinces in China in 2003-2015 is chosen.Based on the generalized moment estimation method and the seemingly unrelated regression model,this paper studies the effect of infrastructure investment on the residents' consumption.