| The accomplishment of balanced regional public capital investment is of vitalimportance for improving residents’ physical and mental life level, maintaining thequality and efficiency of economic development and promoting social harmony. Theoperation of government has been lead by economy-construction oriented developmentstrategy, which results in the state financial expenditure flowing into industry field withhigh economic benefit, rather than into such areas as infrastructure, education, healthand environmental protection. As continuous improvement of Chinese economic andsocial development achieved, the public demand for providing public services andpublic goods from government are growing, which is contradicted to current status ofserious shortage of public investment and differences between regions and urban-ruralare more and more prominent. Therefore, the government takes a series of measures topromote the regional and urban-rural equalization of public capital investment, whichnot only helps to maintain the healthy development of the national economy but alsoeffectively improve the problem of short board in people’s livelihood The empiricalresult shows that: the ranking of public capital stock from most to least queries is theeastern region, the national average, the central region, the western region with obviousregional differences. And the per capita public capital stock is gradually rising in threelarge areas. From perspective of the differences measurement results in public capitalstock, the dominant difference of public capital stock in three major regions isprovincial difference, whereas, there is a chance that the regional difference can beeliminated. According to the research conclusion, this paper makes a deep analysis onthe causes of China’s regional differences in public capital investment from the view ofhistory and realistic point of view, such as "government function theory","institutionalchange theory","technology choice theory" and the "fiscal decentralization theory".Based on theoretical and empirical analysis, the major causes of public capitalinvestment regional differences, government policies including transformation ofgovernment’s functions，perfecting of public finance policy, standardizing transferpayment system and introduction of private capital, is proposed to optimize publicinvestment in China, which will counter regional and provincial public capitalinvestment un-equilibrium.Theoretical research is ultimately used to navigate practice. Deeply understand andcomprehensively seize the present situation of public capital investment and the regional differences, and get a clear understanding of the growing public demand ofpublic service and public products in continuous economy progress. And then applyreasonable rules and regulation on key areas of the government function, main directionof public finance expenditure and transfer payment. These measures are great premisefor reducing our current public capital investment regional differences, meeting publicneeds of society public and promoting social harmony. The18th CPC NationalCongress report clearly pointed out that we should in people’s livelihood orienteddevelopment strategy and raise the level of basic public services and the equalizationdegree to promote the balanced allocation of public resources in urban and rural areason basis of giving consideration to efficiency and equity; finally, the public capitalinvestment scale in china is increased gradually. Governments at all levels shouldincrease the proportion of public capital investment based on the production capacity ofthe corresponding area, especially give policy support to the western underdevelopedarea. In the long run, it’s necessary to transfer government administration anddevelopment conceptions, draft long-term development planning of public capitalinvestment and improve and perfect the system and mechanism of public capitalinvestment. Thus, equalization of public capital investment is achieved in China. |
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