Effects Of Investment Structures On Performance Of Water Conservancy Investment In China

Based on panel data of 31 provinces of China from 1991 to 2015,the paper constructs a VRS-BCC model to evaluate C hina 's performance of water conservancy investment at first.Then the paper takes advantage of panel data model to analyze effects of investment structures on C hina's performance of water conservancy investment,including subject structure,project structure,applica tion structure and fiscal expenditure structure.At last,the paper puts forward suggestions to optimize investment structures of regional water conservancy.Firstly,the paper constructs a VRS-BCC model to evaluate C hina's performance of water conservancy investment in 31 provinces of C hina from 1991 to 2015,including comprehensive efficiency,pure technical efficiency and scale efficiency.The study shows that:(1)As for comprehensive efficiency,each region experiences a developing trend of ?fall-rise-fall?,but only eastern China runs above national average;(2)As for pure technical efficiency,only eastern China remains stable and runs above national average;(3)As for scale efficiency,only western C hina increases steadily and runs above national average;(4)Performance of western C hina experiences a violent fluctuation;(5)Comprehensive efficiency and pure technical efficiency in Tianjin,Beijing and Shanghai run above national average,then comprehensive efficiency,pure technical efficiency and scale efficiency in Xinjiang,Tibet and Q inghai run above national average.Secondly,the dynamic and static panel data model is constructed to analyze effects of investment structures on C hina's performance of water conservancy investment,including subject structure,project structure,application structure and fiscal expenditure structure.Results show that:(1)Previous period performance has significant positive correlation with current performance;(2)Fiscal expenditure ratio of water conservancy shows positive correlation with performance of each region,with a maximum influence coefficient in each model;(3)Project structure(local investment proportion)is positively related with eastern and western C hina;(4)Subject structure(government investment proportion)is is negatively associated with central C hina;(5)Financial pressure(financial expenditure and revenue ratio)is also negatively related with central China;(6)Application structure(irrigation and water delivery investment proportion)is positively associated with western China.At last,in order to optimize investment structures of regional water conservancy,suggestions are put forward as follows:(1)Optimize time structure of water conservancy investment,relying on making investme nt plans in advance;(2)Improve water conservancy expenditure proportion of each region,taking using efficiency of financial fund into account;(3)Enhance local projects proportion in eastern C hina,by means of strengthening constructions of small and medium projects;(4)Improve private investment proportion in central C hina,by attracting private capital's participation;(5)Control fiscal deficit level in central China,by means of improving its fiscal expenditure system;(6)Enhance irrigation and water delivery investment proportion in western C hina,by increasing projects of irrigation and water delivery.