Empirical Analysis Of Investment Behavior Of Local Governments Influence To The Transformation Of China’s Economic Growth Mode

China’s economic growth has not completely get rid of high input and low output growth problems. Progress in China’s transformation of economic growth is still very slow. Numerous researches show that China’s rapid economic growth driven mainly by production factors inputs, especially capital factors continued to increase. Despite the gradual advance market-oriented reforms of China, investors will become increasingly prominent position in the enterprise, but in the current critical period of China’s economic transformation, the role of government, especially the role of local government is still very prominent. So I select this article from the perspective of local government investment behavior occurs alienation empirical analysis of China’s economic growth mode transformation of reasons for the slow progress.Firstly, the change related research and local government investment and Chinese economic growth for a comprehensive review, a clear transformation of economic growth mode and content of the concept of local government investment, theoretically clarify the local government investment behavior of Chinese Economic Growth and the impact of the mechanism of economic growth mode transformation, local government investment behavior affects not only the accumulation of capital factors, especially after the local government investment behavior alienation would affect investment by affecting the industrial structure, technological innovation, and ultimately have an impact on economic growth the economy showed extensive growth characteristics.Fiscal decentralization is the institutional basis for the formation of local governments and strengthening investment behavior, the paper believes that the dual incentives of fiscal decentralization reform and political promotion, local government has become a major player in economic activity, and began to participate in the direct business activities.Local Government Investment alienation features include strong investment impulse, local protectionism, utilitarian tendencies, tendencies and opportunism of local interest groups.Through empirical analysis concluded that local investment size of local government investment behavior alienation caused by excessive expansion, investment structure sustained serious imbalance and low investment returns and other issues, a serious impediment to China’s economic growth mode transformation process, which especially in the industrial structure imbalances and technology investments continued low economic growth mode transformation of the most affected. In addition, I also use 1996--2012 the provinces panel data regression tests to verify the local government investment behavior from the experience of alienation change has a significant negative impact on China’s economic growth mode; and finally put forward relevant policy regulations Local Government Investment and We recommend that only accelerate the transformation of local government functions, and actively adjust the local government investment, promote local investment system innovation, standardize among local governments unreasonable competition, in order to regulate the behavior of local government investment.In this paper, the biggest innovation lies in the Local Government Investment and China’s economic growth mode to combine research, many scholars have referred to local government investment behavior is the direct cause of hamper China’s economic growth mode transformation, but the papers about the local government investment behavior of Chinese economic growth mode transformation issues very few. This paper analyzes the investment behavior of institutional basis of local government is formed, from the perspective of empirical demonstration of the impact of local government investment behavior of Chinese economic growth and growth mode. The downside is that, because the local government investment behavior has less relevant research with China’s economic growth mode transformation aspects of literature, the author’s theoretical research and empirical research has certain shortcomings, and local government investment behavior is not an empirical test easy to portray the variables, this article may lack the more sophisticated theoretical models and detailed empirical analysis.This study helps to understand the irrationality of China’s economic transition process in local government investment behavior, it found that institutional base investment impulse, local protectionism, the formation of redundant construction and other issues, helps explain the reasons that China’s economic growth mode from "extensive" to "intensive" slow, which made the reasonable regulation of Local Government Investment policy proposals, to establish a scientific and efficient system of local investment to accelerate the transformation of economic growth mode, promote the transformation of China’s economic.