An Empirical Study Of Fixed Investment About China's Provinces And Cities Base On Spatial Econometric Models

With the Chinese economy into the "new normal",investment in the new normal economic development plays a more critical role.Increasing investment is not only to increase the amount of investment,How to expand effective investment and improve investment efficiency is more important.In the new normal,we must profoundly understand the characteristics of investment and the effectiveness of the investment.In such circumstances,it is important and meaningful to study the role of investment in the economy.For the study of regional economic problems,we should consider the research object itself and the external factors of the research object.The use of spatial measurement will get more realistic results of the theory,and the results will also be more practical significance.Based on this,firstly,this paper makes a spatial correlation measure,including spatial agglomeration and spatial heterogeneity.Then,according to the correlation,three kinds of weight matrix are determined: contiguity based weights matrix,economic weight matrix and nested weight matrix.In this paper,the spatial lag model,the spatial error model,the space Durbin model and the space Doubin error model are constructed in the cross section data.In the panel data,the fix effects and random effects are added to the panel data.At the same time,we explored the nested weights to determine how geography and economic factors work in the process of investing in the economy.The results show that:(1)At different times,there is a gap between investment and investment rate between different provinces and different regions,and the difference of investment rate is decreasing.(2)The influence of different weights on spatial correlation is different,the influence of adjacency weight is stabilized,the influence of economic weight has an increasing trend,and the Moran's I index of economic weight has a greater impact.(3)When the province's investment is not good,to fully exert the economic weight of the interaction,it should be strengthen the exchanges and cooperation between neighboring areas,especially in North China and East China.The promotion for economy is mutual at this very moment.However when the province has more investment and large investment intensity,it is necessary to make full use of the interaction of investment,and the economic weight will work more efficiently.Therefore,it's necessary to strengthen exchanges and cooperation with higher-level provinces.