Research On The Barycenter Of Fixed Asset Investment And Its Effects

Fixed-asset investment plays a decisive role in China's economic development.It drives economic growth,promotes employment development,and coordinates the unbalanced development among regions.However,at the same time,it will cause industrial development unbalance and increased environmental pollution.The report of the Nineteenth Congress clearly pointed out that China's economy has shifted from high-speed growth to high-quality development.It requires optimizing the structure of fixed assets investment,changing the direction of investment,accelerating the development of modern service industries,and achieving coordinated development among regions.The relationship among the fixed assets investment and economic growth,industrial development,and environmental protection has always been an important subject for scholars to study.This paper uses the data of 30 provinces in China from 2002 to 2015 as sample,uses the center of gravity measurement and decomposition model,input-output model,and the econometric methods to analyze the relationship among the barycenter of investment in fixed assets and economic indicators,social indicators,and environmental indicators.The results of the study indicate that:(1)Investment in fixed assets has been increasing at a relatively large rate,with an average annual growth rate of 17.5%,which is higher than the GDP growth rate.The scale of investment in fixed assets has continued to increase in the central and western regions,and the eastern coast has been relatively reduced.Its contribution to the added value of the primary industry has weakened,and its contribution to the added value of the secondary industry and tertiary industry has continued to increase.(2)The barycenter of investment in fixed assets presents a migration trend of “north-west-southwest”,which is largely determined by investment in construction and installation projects.(3)In the east-west direction,the shift of fixed-asset investment barycenter to the economic barycenter and the barycenter of the energy-intensive industries are more than 50%,and the leading role of carbon emissions is 30%.In the north-south direction,the barycenter of investment in fixed assets is shifted.The driving force for the barycenter of energy-intensive industries is higher than 80%,but it is weak for the economic barycenter and negatively affects to employment.Based on the above conclusions,this paper proposes specific suggestions on economic development,social development,and environmental development regarding to the barycenter of investment in fixed assets,in order to promote the coordinated and sustained development of the urban economy.