| Throughout the evolution of human society,technological innovation is undoubtedly the endogenous driving force to promote the progress of human civilization.At present,human society has entered the period of the fourth industrial revolution.New infrastructure is becoming the key support and important material guarantee for a new round of scientific and technological revolution and industrial reform.New infrastructure is or will become the basic support for human economic and social activities.At the same time,it will complete in-depth technological upgrading and transformation of traditional infrastructure,so as to subversively break through the space-time constraints of communication and cooperation,Promote the rapid development of the new economic model.The vigorous construction of new infrastructure will enable mankind to enter the intelligent society and is becoming a new engine to promote global economic and social development.Major developed countries in the world have arranged infrastructure construction around 5g network,artificial intelligence,big data center,industrial Internet and other aspects,in order to take advantage of the construction of new infrastructure to compete for the commanding height of future economic development in the new historical period.As far as China is concerned,the rapid economic growth over the past three decades is inseparable from the investment and construction of traditional infrastructure represented by railways,highways and airports.However,at present,China’s economy has shifted from high-speed growth to high-quality development.The driving force and direction of economic growth have changed.It is difficult for traditional infrastructure to continue to support the healthy,rapid and sustainable development of China’s economy.There is an urgent need to build new infrastructure to lead and support the development of advanced productive forces.As an infrastructure characterized by technological innovation,what is the relationship between new infrastructure and traditional infrastructure? What is the action mechanism of new infrastructure on economic growth and through which ways to promote economic growth? Will the new infrastructure significantly promote China’s economic growth and support China’s rapid economic growth like the traditional infrastructure? The above series of problems around new infrastructure and China’s economic growth are very important for both theoretical circles and China’s economic practice,but there is no systematic research,and even there are research gaps in some aspects.Therefore,based on economic theory,this paper comprehensively uses the research methods of literature analysis,combination of theory and demonstration analysis,comparative analysis and so on,focuses on the above three core issues,reveals the mechanism of new infrastructure promoting economic growth through theoretical research,and tests the mechanism of new infrastructure promoting China’s economic growth through empirical research,Provide corresponding policy enlightenment for accelerating the cultivation of new infrastructure as a new driving force of China’s economic growth.The main research contents of this paper are as follows:On the basis of systematically combing the relevant literature at home and abroad,starting from the research purpose,this paper defines the concepts of infrastructure,new infrastructure and economic growth,analyzes the characteristics of new infrastructure,and focuses on the relationship between new infrastructure and traditional infrastructure.Then,this paper analyzes the current situation and existing problems of China’s new infrastructure construction.Under the idea of overall consideration of the relationship between new infrastructure and traditional infrastructure,this paper measures the development level of China’s new infrastructure by adding information infrastructure,integration infrastructure and innovation infrastructure,which not only highlights the digital and technological innovation characteristics of new infrastructure,It also overcomes the shortcomings in the selection of proxy variables and statistical data of new infrastructure.Then,this paper constructs a theoretical analysis framework of new infrastructure promoting economic growth,focusing on the mechanism of new infrastructure promoting economic growth.The study found that the role of new infrastructure in promoting economic growth can be divided into direct and indirect roles.The direct role mainly promotes economic growth through infrastructure investment and its multiplier effect,and the indirect role mainly promotes economic growth through innovation ability,human capital and government governance.First,new infrastructure investment,like traditional infrastructure investment,as an integral part of the national economy(GDP),plays a direct role in promoting economic growth,and this direct role will increase with economic development,and infrastructure has a strong investment multiplier effect;Second,the new infrastructure can enhance the innovation ability by gathering innovation elements,reducing R & D costs and optimizing the innovation system,so as to enhance the endogenous driving force of economic growth and promote economic growth;Third,the new infrastructure improves the level of human capital by improving the level of labor force,labor productivity and labor income,so as to promote long-term economic growth;Fourth,the new infrastructure improves the level of government governance by enhancing the government’s macro-control ability,reducing government governance costs and building a smart government,so as to help economic growth.On the basis of theoretical analysis,this paper takes 30 provincial units in China from 2009 to 2019 as research samples to make an empirical study on the impact of new infrastructure on economic growth.Taking per capita GDP and total factor productivity as the explanatory variables,the investment level of new infrastructure as the core explanatory variables,information infrastructure,integration infrastructure and innovation infrastructure as explanatory variables,and technological innovation,human capital and government governance as intermediary variables,this paper makes a regional distinction between East,middle and West China,Comprehensively considering the impact of new infrastructure on China’s economic growth scale and growth efficiency,the difference of the impact of new infrastructure on China’s economic growth in different regions,the difference of the impact of different types of new infrastructure on China’s economic growth,and the impact of new infrastructure on economic growth through innovation ability,human capital and government governance,So as to reflect the impact of new infrastructure on China’s economic growth in multiple dimensions and as truly as possible.The empirical results show that the new infrastructure has an obvious direct and indirect role in promoting China’s economic growth,but the role of the new infrastructure in promoting regional economic growth in eastern,central and Western China is different.The role of information infrastructure,integration infrastructure and innovation infrastructure in economic growth is also different.The new infrastructure can enhance innovation ability,improve the level of human capital The indirect effects of enabling government governance on promoting economic growth are also significant,and the effects are different.Finally,based on the summary of the experience of new infrastructure construction in developed economies such as the United States,the European Union,the United Kingdom and Japan in promoting economic growth,this paper analyzes the causes of China’s new infrastructure construction and its problems in promoting economic growth,and puts forward corresponding policy suggestions.The study found that although China’s new infrastructure has developed rapidly in recent years,due to the failure to deal with the relationship between the government and the market,the insufficient investment of the government in basic research,the insufficient cultivation capacity of relevant professionals in Colleges and universities,the regional differences in factors and technological endowments,and the exploration of investment and financing mechanisms,China’s new infrastructure construction has a low-level repeated construction,heating supply momentum,weak basic research capacity A series of problems,such as insufficient support of professionals,large regional development differences and difficult investment and financing,have limited the potential of China’s new infrastructure to promote economic growth to a certain extent. |
