Study On The Financial Investment In Xinjiang Highway Infrastructure Construction

As an important transport infrastructure,highway infrastructure has played a crucial role in Xinjiang’s economic development.The improvement of highway infrastructure can shorten the spatial distance between Xinjiang and surrounding areas and countries,open up a broader market for Xinjiang’s commodity export,and improve the investment environment of Xinjiang.Xinjiang highway infrastructure construction not only can directly stimulate economic growth,but also can through increased employment and promote the development of raw materials and other related industries indirectly stimulate economic growth.Highway infrastructure construction needs sufficient financial capital investment,the amount of financial investment,the economic and social effects of investment will affect the highway infrastructure construction on Xinjiang’s economic development effect,therefore,it is necessary to study the financial investment of Xinjiang highway infrastructure construction.In this paper,the concept of infrastructure,the characteristics of infrastructure and the concept of highway infrastructure are expounded by theoretical analysis.The output elasticity of Xinjiang highway infrastructure to Xinjiang GDP is estimated by least square method,and the comparative analysis method is used to compare the impact of Xinjiang and national highway infrastructure investment on GDP,and analyze the effect of Xinjiang highway infrastructure construction investment.Through the analysis,it is found that Xinjiang highway infrastructure investment has a stimulating effect on Xinjiang’s GDP,but the pulling effect is lower than the national average level.There are many problems in the construction of highway infrastructure in Xinjiang,such as the lack of the total amount of financial investment,the pressure of investment repayment,the pressure of single fundraising,the insufficiency of legal guarantee and the lack of efficiency evaluation system of social capital investment.In view of the above problems,this paper put forward several suggestions for reference.