Government Investment Efficiency Research Of Regional Differences

Investment, consumption and export are three important strength That promotes economic to grow. But since the reform of exchange rate system, The exchange rate of the yuan against the dollar continued to be strong,which Is not conducive to the export of products and services, At the same time, With the increase of domestic labor costs and the effects of inflation,China’s export advantage continues to decline. On the other hand, High saving rate of the residents in our country determines that during quite a long period of time Insufficient domestic demand will remain.as a result,it is not obvious to drive economic growth. Therefore, to expand investment, Especially reasonably increasing investment is still the current stage of the means to promote economic growth. According to the investment subject, Proportion of private investment have been gradually rise, But private investment in manufacturing, real estate, garment and other industries, in the field of science and education, medical treatment, health and other public utilities have been low investment proportion, such investment is still the government as the main body. The economic development of our country is in transition, The current local government dominated economic model is the main economic development model, So the government investment efficiency determines the quality and speed of economic growth. Due to the imbalance of economic development in our country, in the different region, the efficiency of government investment should also exist differences, So study the efficiency of the government investment level, regional differences, in turn, gives the corresponding improvement strategy, has important practical significance.Based on three stages of the DEA model and Malmquist index method, the paper studied the efficiency characteristics of government investment in China, and analyzes the efficiency of government investment in 2008-2012 with the dynamic data, the conclusions are following:1. Using the three stage DEA model, after eliminating environmental factors and random factors, the provinces(autonomous regions and municipalities directly under the central government) in China is not optimistic, as a result of the government investment efficiency comprehensive efficiency average of only 0.456, and the main subject to pure technical efficiency is low. Different parts of the government investment efficiency difference is very big,the highest efficiency value reaches 1, minimum of only 0.036. 2 、 Our country government investment efficiency by GDP per capita, per capita loan balance, the influence of foreign investment and technology,which can be seen from the per capita GDP 、 loan balance per capita, foreign investment and technology for in the regression of the redundancy in the second stage SFA regression analysis, and environmental factors influence on government investment input redundancy direction is different. 3 、 From the dynamic efficiency of government investment,Malmquist index last less than 1,which Suggests that the government continues to decline, investment of the total factor productivity growth, Technical deficiencies in government investment, the pure technical efficiency is not improved government investment are the main causes of total factor productivity growth.Therefore, according to the empirical results, According to the analysis result is recommended to find out the cause of government investment efficiency difference between different areas, clear the direction of the need to improve, develop regional investment strategy, improve the efficiency of government investment.