An Empirical Analysis Of The Impact On The Economic Growth About Investment In Fixed Assets In Fujian Province

Economic development is the synergism of economic quality progressing and economic quantity growing,whose basis is the growth of economic quantity.However,the blind pursuit of the growth of economic quantity and ignoring the progress of economic quality will lead to a threat on economic growth,economic strength,national life level,social harmony and stability.Since the reform and opening up,Fujian Province has been facing the rapid economic development.With the introduction of a series policies and the arrival of important strategic period of the comprehensive deepening reform policy,Fujian Province is also facing more opportunities as well as challenges for development.At present,the domestic economic development is stepping into a new normal state.Blindly expanding investment will exacerbate economic structural imbalance,leading to the decline in the quality of economic growth.This paper analyzes the relationship between fixed asset investment and economic growth in Fujian Province,establishes the corresponding econometric model,explores the effect of investment on the economic growth of Fujian Province,and provides decision support for increasing effective investment and improving the efficiency of investment in fixed assets,so as to promote the sustained,healthy and stable development of economy.Based on the domestic and foreign research and related theories,this paper,firstly,analyzes the relationship between fixed asset investment and economic growth(GDP,per capita GDP,household income and quantity of employment)based on the relevant data of Fujian Province from 2000 to 2015.Secondly,the paper analyzes the relationship between fixed asset investment and economic growth quality(investment productivity,structural deviation,the ratio of investment and consumption,and the fluctuation ratio of economic growth).Thirdly,this paper analyzes the economic benefits of fixed assets investment in various regions of Fujian Province by using fixed assets investment benefit index(scale benefit,quality benefit and correlation effect).Finally,according to the output-elasticity-variable production function model,the state space model is established to analyze the dynamic change of the investment output elasticity of the fixed assets,and the variable coefficient panel model is established to analyze the influence of the fixed asset investment on the regional economic growth.According to the empirical results,the conclusions of this paper are as follows:First.fixed assets investment is still an important force to promote Fujian's economic growth,as a result,high investment policy can't be withdrawn at present.Second,the overall quality of economic growth in Fujian Province is relatively good but has been gradually decreasing.Third,the economic benefits and the output elasticity of the fixed assets investment have been gradually decreasing.Fourth,the economic benefits and the output elasticity of the fixed assets investment in different regions of Fujian Province are different from one another.Therefore,the following suggestions are put forward respectively:First,control the investment scale in a reasonable range,increase the scale of effective investment,to promote sustained and stable economic growth in Fujian Province.Second,adjust the investment structure of Fujian Province,accelerate the optimization and upgrading of industrial structure,and accelerate the reform of investment and financing system.Third,improve the ability of technological innovation and the economic benefits of fixed assets investment,to improve the quality of economic growth.Fourth,allocate fixed assets investment in a rational way,to promote unisonous and stable economic growth in different regions in Fujian Province.