The Study Of The Effect Of Local Government Investment On FDI From A Spacial Perspective

The crowding-out effect of government investment has always been a hot issue in the debate on the macro-economy in our country.It not only affects the implementation of China's fiscal policy but also affects the long-term economic development.Especially after the global monetary crisis in 2008,in order to curb the economic recession,my government started the 4 trillion fiscal investment stimulus package.Although domestic and foreign scholars have studied quite a lot about the crowding-out effect of government investment,the results are not the same.Moreover,previous studies mainly focused on the impact of government investment on domestic private investment.Few scholars have considered the impact of government investment on foreign direct investment.At the same time,the past researches on crowding-out effect of government investment mainly focus on Keynesian crowding out effect theory,and rarely do research on the special situation in our country.This special national condition includes that the proportion of China's state-owned economy is much higher than that of western developed countries,and the mechanism of the traditional Keynesian basic effect does not exist in our country.Based on this point,this dissertation divides the government investment into the public investment and the competitive investment in the definition of the government investment,examines the relationship between the government investment and the foreign direct investment as Government investment policy arrangements provide the basis.The structure of this paper is as follows: The first chapter is the introduction,which mainly expounds the research background and significance,research content,research methods and technical routes as well as the innovation of this paper.The second chapter mainly introduces the present situation and review of research both at home and abroad,as well as a brief introduction to the classic theory of extrusion effect and crowding-in effect.The third chapter first defines the concept of government investment and private investment,analyzes the general mechanism of the crowding-out effect of government investment and the unique crowding-out effect under the current market economy system in our country,at the same time,it introduces the government intervention in production A Theoretical Model of Extruded Foreign Direct Investment in the Field.The fourth chapter mainly introduces the current situation of government investment and foreign direct investment in our country,including the scale and structure of government investment,the scale of FDI and the industrial distribution characteristics.The fifth chapter is about the empirical research on the influence of government investment on foreign direct investment.First,we introduce the related theory of spatial panel model.Secondly,we explain the data selection,and divide government investment into public investment and competitive investment.At the same time,Investments in the public domain are divided into five areas: electricity,gas and water production and supply,transport,storage and postal services,water conservancy,environment and public facilities,science,education,culture and health and public administration and organ groups,And then test the spatial correlation between government investment and foreign direct investment and select the spatial Dubin model to make empirical analysis of the variables.After obtaining the nationwide empirical results,we divide the 31 provinces in our country into three parts: east,middle and west according to their geographical location and level of economic development,and conduct empirical tests respectively to compare and analyze their regional differences.Chapter VI is the conclusion and policy recommendations.The main conclusion of this paper is that government investment will have a certain impact on foreign direct investment,and government investment in different fields will have different impacts.After the government invests in the competitive field to squeeze out foreign direct investment and divides the public domain into different industries,the different industries in which the government invests in the field of public property will also have different results.After dividing our country into three parts of East,West and East respectively,we found that there are regional differences in the impact of government investment on foreign direct investment.In this regard,the government should clearly define the areas of investment,create a favorable investment environment and make better use of foreign direct investment.