Research On The Impact Of Official Evaluation System On The Efficiency Of Infrastructure Investment

With the continuous advancement of China's reform and opening,all aspects of our society have made great progress.Especially in the filed of economic.The improvement of the investment in infrastructure is one of the important forces.Regarding the arrangement of infrastructure investment,although there are currently many innovative forms of social capital participating in infrastructure construction,infrastructure investment is mainly invested by local governments.Local officials,as decision-makers,are constrained by a series of systems formulated by higher-level governments.In other words,the higher level government can guide and restrict the behavior of local officials' infrastructure investment decisions through the official evaluation system.From the perspective of development history,China's official evaluation system presents two different focuses on the economic level,including "GDP worship" and "inclusive growth".In terms of infrastructure investment,the former emphasizes that GDP growth becomes a key factor of the assessment,the latter present multidimensional content in the target assessment.Based on the infrastructure investment decision mechanism and the corresponding theoretical transmission mechanism,"GDP worship" and "inclusive growth" will directly or indirectly affect the evaluation of infrastructure investment efficiency.Likewise,based on previous research and economics-related theories,and using literature analysis and empirical analysis methods,this article studies the issue of infrastructure investment efficiency from the perspective of the official assessment system.The goal is to improve infrastructure investment efficiency and improve China's official assessment system,To enhance the ability of infrastructure investment to serve economic development.In terms of research ideas,the research is focus on using the theoretical research on the official evaluation system and the efficiency of infrastructure investment,using panel data from 31 provinces in China from 2007 to 2017,from "GDP worship" and "inclusive growth" perspectives,study the impact of the official evaluation system on infrastructure investment efficiency.Specifically,in theory,clear research background and significance,sort out relevant literature,and summarize related concepts and theories firstly.Secondly,analyze the status of China's official evaluation system andthe efficiency of infrastructure investment,and explain the impact of transmission mechanism about official evaluation system on infrastructure investment.On the empirical level,compared to the selection of the "GDP Worship" indicator,the selection of the "inclusive growth" indicator is more complicated.The GTML index method is used to measure China's inclusive total factor productivity.Factor productivity(TFP)is a measure of inclusive growth.Secondly,define the efficiency of infrastructure investment,and use the DEA-BCC model to measure the efficiency of infrastructure investment in China from 2007 to 2017 and analyze the results.Finally,the panel regression model is used to analyze the impact of two different assessment systems,"GDP worship" and "inclusive growth",on the efficiency of infrastructure investment.The empirical results show that from 2007 to 2017,the evaluation system with economic development as the core has a greater impact on infrastructure investment efficiency,but the impact of the "inclusive growth" evaluation system with multidimensional development as its goal on infrastructure investment efficiency has been increasing.Enhanced.This has inspired us to accelerate the transformation of China's official assessment system,so as to increase the driving force of economic development and improve the efficiency of basic investment.The main innovations of this article are as follows: from the perspective of the official assessment system,it studies its impact on the efficiency of infrastructure investment,and incorporates the two different focuses of "GDP worship" and "inclusive growth" into a unified analysis framework,which is beneficial to The two directly compare the impact of different assessment systems on the efficiency of infrastructure investment.In addition,the theory of political promotion is introduced into the measurement field of infrastructure investment.Applying the results of quantitative analysis to realistic problems will help promote local governments make scientific decisions on infrastructure investment issues.