The Promotion Of Anti-Corruption To Long-Term Economic Growth

The relationship between corruption,anti-corruption and economic growth has always been the focus of social and academic circles,especially the “new normal” in which China's economy has entered a mediumto-high-speed growth in recent years.The essay focuses on the impact of anti-corruption on economic growth.This paper takes 31 provinces(autonomous regions and municipalities directly under the Central Government)from 2007 to 2017 as research samples,selects economic development data and anticorruption data,and uses dynamic panel data differential GMM method to study the impact of anticorruption on economic growth.The study found that(1)anti-corruption have a significant positive impact on economic growth: in average,for every 1% increase in anti-corruption,its impact on economic growth in the current year is about 0.02 percentage points;(2)The main transmission mechanism of anti-corruption affecting economic growth is to influence economic growth by affecting investment.Anti-corruption has a positive impact on the fixed asset investment of the whole society,but the promotion of anti-corruption to non-state-owned enterprises is stronger than that of state-owned enterprises.The reason for this difference is that anti-corruption,especially the implementation of high-pressure anti-corruption policies,means that for non-state-owned enterprises,it faces a fairer market competition environment and a more transparent market operation system;but for state-owned enterprises,most senior executives of state-owned enterprises have administrative levels,and the implementation of anti-corruption still has a certain deterrent effect.(3)The impact of anti-corruption on economic growth has a regional effect.Anti-corruption has the greatest impact on the central region in the traditional sense,followed by the influence on the eastern region and the least on the western region.(4)The impact of anti-corruption on economic growth has a time effect or a cumulative effect.The impact of anti-corruption on economic growth is not limited to the current year,but has a cumulative effect.As far as the regression results of the existing models are concerned,the anticorruption events that occurred in the past will have a positive impact on economic growth at least two years later.Therefore,China must firmly adhere to high-pressure anti-corruption and establish and improve the relevant mechanism system from the macro,meso and micro levels.