Research On The Impact Of New Infrastructure On China’s Economic Growth Based On Variable Selection And QIF Method

To stabilize the economy and promote development is the basic guarantee for a country to enjoy long-term peace and stability.In the domestic context of China’s high-quality development in a new era,and in the international context of the world undergoing major changes unseen in a century,the world economy is in a downturn,but China’s economy is still able to achieve positive growth.This is thanks to the reform and opening-up policy that China has implemented for more than 40 years and has seized the dividends of economic globalization.After decades of infrastructure boom,China has managed to nurture new economies and deal effectively with crises.In this period,new infrastructure construction（referred to as"new infrastructure"）is providing new ideas,new ways and new engines for promoting the development of our economy.In order to study the impact of new construction on our economic growth,this thesis focuses on the deep connotation of new construction and combines the actual situation,and bases on seven core areas of new construction.A new infrastructure evaluation index system has been established in seven areas:5G network infrastructure,artificial intelligence infrastructure,ultra-high voltage infrastructure,new-energy vehicle charging pile infrastructure,intercity high-speed railway and intercity rail transit infrastructure,industrial Internet infrastructure,and big data center infrastructure.In order to achieve accurate development in different regions,this thesis establishes panel data regression model,and then objectively uses SCAD,adaptive Lasso,elastic network and MCP to compare the four variable selection methods,and screens the indicators that the new infrastructure has a strong impact on economic growth.In order to improve the estimation accuracy of the impact of new infrastructure on economic growth,quadratic inference function method is used to carry out regression analysis considering the correlation within the data set.The final conclusion of this thesis is that,at the national level,indicators of UHV,big data centers,artificial intelligence and industrial Internet have a significant impact on economic growth.Among them,the contribution of electricity consumption（x₅）to economic growth is 0.7891,the contribution of Internet broadband access port(x₁₃)to economic growth is 0.2257,and the contribution of mobile Internet broadband access users(x₂₀)to economic growth is 0.1542.R&D expenditure(x₁₆)of industrial enterprises above designated size contributes 0.0072 to economic growth.For the eastern region,indicators in terms of ultra-high pressure,intercity high-speed rail and intercity rail transit,big data centers and industrial Internet influence economic growth.Among them,the promoting effect of urban rail transit mileage（x₉）on economic growth is 1.6692,the driving effect of electricity consumption（x₅）on economic growth is 1.3047,the contribution of mobile Internet broadband access users(x₂₀)to economic growth is1.0746,and the contribution of Internet broadband access port(x₁₃)to economic growth is 0.1315.The promoting effect of domestic patent application acceptance(x₁₄)on economic growth was 0.0480.For the central region,UHV and artificial intelligence indicators have an impact on economic growth.The contribution of power consumption（x₅）to economic growth is 0.8130,and the contribution of R&D expenditure of industrial enterprises above designated size(x₁₆)to economic growth is 0.6335.For the western region,the indicators of ultra-high pressure,intercity high-speed railway,intercity rail transit and 5G network have a significant impact on economic growth.Among them,power consumption（x₅）has 0.7121 driving effect on economic growth,optical cable length（x₁）has 0.1870 effect on economic growth,and tourism turnover(x₁₀)has 0.0886contribution to economic growth.Finally,this thesis will put forward relevant suggestions according to the conclusion.