Research On The Impacts And Spatial Effects Of Environmental Regulations On Infrastructure Investment Efficiency

Infrastructure investment to steady economic growth plays a crucial role,the government’s investment in infrastructure increases increasingly,progress in economic development,urbanization process is accelerated at the same time,infrastructure construction and operation are exist with the problem of resources and environment carrying capacity doesn’t match,the wasting of factors of production at the same time has a negative externalities on the ecological environment.Therefore,with the deepening of the country’s supply-side structural reform,environmental regulation is bound to have an impact on the efficiency of infrastructure investment.The increase in the intensity of environmental regulation will directly affect the cost and R&D investment of relevant enterprises.The spatial heterogeneity of the intensity of environmental regulation will also affect the site selection and technological innovation mode of enterprises.The analysis of the relationship between environmental regulation and the efficiency of infrastructure investment and its mechanism of action will help the government to formulate appropriate environmental regulation policies based on the regional factor and resource endowments,promote the intensive and efficient utilization of infrastructure investment,and finally achieve high-quality development of regional economy.In this paper,the current research status and theoretical basis of environmental regulation and infrastructure investment efficiency are systematically described and summarized,and the core concepts of environmental regulation and infrastructure investment efficiency are scientifically defined.Secondly,the paper analyzes the impact mechanism and spatial effect of environmental regulation on the efficiency of infrastructure investment by combing the literature.It is found that the impact of environmental regulation on the efficiency of infrastructure investment can be divided into compliance cost effect and innovation compensation effect,and there are "substitution effect" and "compensation effect" in space.Then,the index system of the intensity of environmental regulation and the efficiency of infrastructure investment was constructed by using the literature precipitation method.The entropy weight method and DEA model were used to measure the intensity of environmental regulation and the efficiency of infrastructure investment,and the spatial correlation analysis was carried out to study the spatial characteristics of the two.Finally,we empirically analyze the influence mechanism and spatial effect of environmental regulation on the efficiency of infrastructure investment.In this paper,the research results show that environmental regulation effect on the efficiency of the infrastructure investment is the direct effect and indirect effect of common as a result,a region of the intensity of environmental regulation and infrastructure investment efficiency in addition to the affected by the elements of this region resources endowment,also can produce spatial correlation because location difference.During the sample period,the intensity of environmental regulation was high in the east and low in the west,high in the north and low in the south.The efficiency of infrastructure investment in different regions was significantly different,and both of them showed strong spatial effect.The empirical results based on the spatial econometric model show that the impact of environmental regulation on the efficiency of infrastructure investment presents a "U-shaped" curve relationship and can inhibit the spatial spillover of the efficiency of infrastructure investment.Based on the above research conclusions,this paper puts forward policy suggestions to the government from three perspectives of technological innovation,resource allocation and sound mechanism,which can help effectively control environmental pollution and promote the improvement of infrastructure investment efficiency and sustainable development.Due to limited data and time,this study failed to study the spatial correlation between environmental regulation and the efficiency of infrastructure investment from the urban level,which is a direction that needs to be further studied.