| Since 1978,China's total fixed asset investment growth and has the very big enhancement,the economic cycle theory is that investment fluctuations can change in a certain extent,led to the emergence of economic fluctuations.But investment is one of the more common cyclical factors in the "troika" of the national economy.In the total amount of investment in fixed assets and the regional differences of growth,is due to the significant policy tilt,the original economic foundation and the influence of location advantage,China's eastern coastal province attracted a lot of investment in fixed assets,which also has the first mover advantage of economic development;And the total amount of investment in fixed assets in the central and western inland provincial small,plus transportation,human resources and technology is relatively backward,compared with eastern economic development is still relatively backward.Under the economic background of the new normal,our country faces the double challenges of economic situation at home and abroad,the domestic economy is facing severe downward pressure,foreign economic situation is relatively serious,shrinking external demand,facing the norm and recession.In this special situation,how does the spatial difference between the fixed asset investment and the regional economy affect? This is the focus of this paper,which also has a strong realistic meaning.This paper draws on bilateral under random boundary model to the new normal in different parts of the fixed assets investment activities in the mechanism analysis,it is concluded that the net effect of the fixed assets investment depends on positive tension function under the new normal game,and work together with the effects of the negative resistance.Based on widely,on the basis of summarizing predecessors' research results,through the share of investment,investment efficiency indicators research,spatial correlation of the provinces investment share and efficiency analysis of the status quo,through calculating the provinces investment relative share of data discovery provinces relative share present a general widening trend;Eastern,central and western three regional investment disparity shows the tendency of convergence,the reason lies in the central and western regions of short-term need to increase the investment in fixed assets to ensure steady economic growth,dealing with internal and external impact,medium and long term to compensate for the development gap with the eastern region,the eastern capital stock has a larger.There is a tendency to converge on the investment efficiency of fixed assets by delta-convergence,which is a more positive signal for narrowing regional economic development.By basic theory of space economics and moran index calculation,we found that the investment share index has significant spatial correlation,and the correlation has a tendency to strengthen under the new normal;This paper also analyses the problems of investment in fixed assets,found in the central and western regions in our country exists obvious efficiency loss of investment in fixed assets,many of the Midwest provinces has entered the high share and high growth and low efficiency,the extensive mode of investment in fixed assets.On the east and Midwest respectively after the cointegration test,this article through to year as threshold variables,set up and three major areas of the country's panel threshold regression model,found that single threshold model can be built by all three areas,the threshold of the western region estimate later in central and eastern,the time lag of about one year,it also objectively shows that China's new normal economic characteristics on the horizontal and vertical are gradually forming.The threshold estimate shows significant changes around 2014,a sign of the new normal economy.Investment in fixed assets,as an important means for driving economic development in the region,should be used in accordance with local conditions,and should not be increased or decreased in a single way.It is imperative to increase investment in fixed assets in western China.For the eastern region should not be too USES the economic drive mode of investment in fixed assets,should be more driven by technological advances and increased economic openness to regional economic development.The impact of fixed asset investment on regional economic growth will be smaller in the east than in the central and western regions.This is due to the east and Midwest areas at different levels of capital accumulation is decided,in the east of the capital accumulation has reached a certain level,presents the saturated state;Degree of capital accumulation and the central and western regions is relatively lack,so the impact on regional economic growth of investment in fixed assets scale,in the east than the Midwest.Therefore,this article gives the policy Suggestions of fixed asset investment driven economy it should adjust measures to local conditions,the western region still should increase the investment in fixed assets,and the eastern region should through increased investment in R&D,promoting technology progress and economic development to promote regional economic development;Private fixed asset investment should be encouraged,and the share of private fixed assets investment through PPP,lowering barriers and barriers will gradually increase.Simultaneously identify and ensure that financial funds are withdrawn from competitive industries,ensuring that they are primarily aimed at providing public goods and infrastructure investment. |
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