The Impact Of Transportation Infrastructure On National Economy In China

Along with the rapid development of China’s economy and the process of urbanization,the construction of transportation infrastructure has created enormous social benefits,and transportation infrastructure projects have also become the government’s investment focus.However,all departments of the national economy are taking part in the whole body,any change between them will have an impact on the operation of the economic system.To this end,it is necessary to do a top-level design and overall planning to clarify the impact of large-scale transportation infrastructure construction on various aspects of the economy and society.This is not only directly related to the arrangement of government revenue and expenditure,but also directly related to the choice of China’s transportation infrastructure strategy and development path.In order to solve the above problems,this paper compiled a social accounting matrix including a transportation department and 8 non-transport departments as a data set,and used the Computable General Equilibrium Model(CGE)method to establish a computable general equilibrium model of China’s transportation infrastructure.The equilibrium model makes a reasonable abstraction and characterization of the real economic system.Policy shock is carried out on the basis of GDP,investment multiplier,output of other production sectors,employment level and social welfare are selected as macroeconomic indicators to simulate the changes of the entire economic system brought by the adjustment of transportation infrastructure investment.The conclusions are as follows:From the macro level,the increase in government transportation infrastructure investment has a significant role in promoting economic growth and employment levels.However,the promotion of economic growth caused by unit investment has gradually increased and then gradually weakened,showing an inverted U-shaped trend,that is,there is the optimal investment level of transportation infrastructure with the maximization of marginal economic growth.In 2012,the investment multiplier of China’s government on transportation infrastructure has not reached the watershed,and even the phenomenon of diminishing marginal utility of investment has not yet appeared.At this time,if the investment level of transportation infrastructure is improved within a certain range,it will strongly promote social and economic development.From the medium level,the investment of central and local governments in transportation infrastructure helps to improve the production capacity of various industries.The government’s transport infrastructure investment plays a more significant role in promoting the production and supply of electricity,heat,gas and water and the non-public service industry,which is a big difference from the previous research results in this paper.From a micro perspective,the government’s investment and construction of transportation infrastructure have an expansionary impact on the increase of residents’ welfare.However,under the restriction of the dual factors of diminishing marginal benefit of investment and diminishing marginal benefit of welfare,the improvement of residents’ social welfare brought by the increase of each unit of investment generally presents a nonlinear feature of gradual weakening.This paper expands the discussion on the economic effects of transportation infrastructure from the method level.Under a unified framework,it quantifies the impact of the external impact of transportation infrastructure on each other’s related markets,and examines the possibility of achieving multi-objective coordination of economic policies.To a certain extent,it has deepened the understanding of the economic impact of transportation infrastructure.