A Research On The Investment Efficiency Of Gansu Province's Economic Growth

Investment, as one of the troika to promote economic growth, includes two aspects, namely, the scale of investment and investment efficiency. In the case of no change in the scale of investment, to increase the efficiency of investment has become an important factor to promote economic growth. On the case of Gansu Province, as a result of the backward economic development, a lower level of per capital income, driven by large-scale investment. the economic growth will be limited; improving investment efficiency is even more with practical significance.In this paper, on the basis of the summary and research review of the efficiency of investment and economic growth theory, the marginal capital-output (ICOR, the investment efficiency) were measured and analyzed from the macro-economic, and different economic sectors in terms of different industries in Gansu Province in 1978 -2007 respectively, and a number of problems and characteristics of the efficiency of investment in Gansu Province were analyzed as well. In order to understand the relationship between the investment efficiency and economic growth of Gansu Province, this article first analysis macro investment efficiency in Gansu Province and the GDP growth rate of regression, it is showed that, between the two there is an obvious linear relationship. At the same time, the use of X-efficiency theory of Harvey measured the efficiency of investment in Gansu Province on the contribution of economic growth. Secondly, based on different economic sectors in Gansu Province, the results of the different measured components of industries, an analysis between investment efficiency of different economic sectors in Gansu Province and economic growth, between investment efficiency in different industries sector and economic growth was done. Finally, this article deals with how to improve the investment efficiency of Gansu Province, from the three areas of strengthening the capacity to deal with external shocks, changing in the investment system, strengthening the management of government investment, and works out the basic ideas of improving the investment efficiency in Gansu Province.