Periodic Difference In The Influence Of Government Intervention In Ecomonic Growth:International Experience And Chinese Reality

Government intervention played an important role in Chinese early economic growth.However,as China economy entered New Normal,transforming government function and consistently streamlining administration and delegating power are main direction to the current economic reform in China.It's good to pertinently adjust government intervention,to invigorate market and social creativity,according to the research on the influence index of government intervention at different stage and its mechanism,which can help transverse smoothly from mid-income stage to high-income stage.The essential connotation of economic in different stage is the driving force of growth.From the low-income stage to the high-income stage,the driving force shifts from the input of factor to the efficiency of factor utilization,and government intervention influences economic growth by acting on growth drivers,thus demonstrating economic growth.Impact on the phase differences.In the low-income stage,government intervention is conducive to increasing the role of factor input in promoting economic growth,thus showing the role of promoting economic growth.In the high-income stage,government intervention will inhibit the use of factor efficiency in promoting economic growth,so that performance It has an inhibitory effect on economic growth.In order to verify the mechanism of government intervention on economic growth,this paper analyzes countries that span the middle-income trap and middle-income traps.Based on the study of growth accounting,it is found that trans-group countries have achieved growth transformation from low-income stage to high-income stage.,And the countries in the group gradually formed a dependence on factor inputs.Comparative analysis finds that getting rid of dependence on factor inputs and realizing the transformation of growth dynamics is the essential requirement to achieve a leap from a low-income stage to a high-income stage.Through the introduction of interactions between government intervention and growth dynamics,it is found that government intervention faces a dilemma in the middle-income stage.On the one hand,government intervention can still promote economic growth by accelerating the accumulation of factors.Therefore,middle-income economies are more likely to have path dependence and lead to stagnation of economic growth.On the other hand,government intervention will inhibit the use of factor efficiency in promoting economic growth.Therefore,timely fading out of government intervention will help to break the reliance on the growth path of factor investment,and force the market to increase the efficiency of factor use and avoid the stagnation of economic growth.China's regional economic development is uneven,and the development stages in different regions are also different.The study of China's reality has found that: The government intervention's impact on China's economic growth is basically in line with international experience;the economic growth momentum in relatively developed regions is gradually transforming into technological progress.The degree of government intervention should be gradually reduced;in regions with comparatively backward economies,factor input is still the main driving force for economic growth,and the government is interfering with the positive dilemmas.Based on the above analysis,this paper finds that the relatively backward areas of China's economy are the key to government intervention.On the one hand,to continue to play the role of factor input,it should still be dominated by government intervention.On the other hand,to promote the transformation of growth momentum and promote economic growth through technological advancement,we should cultivate a relaxed market environment.