Financial Status, Financial Development And Urban Infrastructure Level

According to the report of the 19 th National Congress of the Communist Party of China,it is necessary to speed up the implementation of the strategy of regional coordinated development and construct the urban pattern of coordinated development of large,medium and small cities and small towns with urban agglomerations as the main body.Infrastructure is an important guarantee for the smooth implementation of the strategy of "regional coordinated development" and "new urbanization".At present,the regional development of infrastructure in China is not balanced,and the difference between the East and the west is large.The analysis of the relevant influencing factors of infrastructure construction is conducive to providing reasonable planning for infrastructure construction and scientific guidance of regional coordinated development.Based on the panel data of 30 provinces in China from 2010 to 2017,the evaluation index system of urban infrastructure level is constructed by using entropy method.The infrastructure is divided into economic infrastructure and social infrastructure according to the nature of the industry.The scale of public financial revenue and financial correlation rate are selected as indicators to establish panel vector autoregression(pvar)model,and GMM estimation is carried out for the model Impulse response analysis and variance decomposition are used to analyze the effect of public financial and financial factors on different types of infrastructure level,and then put forward countermeasures and suggestions to give full play to the supporting role of public financial and financial factors and accelerate infrastructure construction.The results show that:(1)the improvement of the government's public financial situation can promote the improvement of the two types of infrastructure;the improvement of the financial development level has a positive effect on the infrastructure in the short term,but a negative effect on the infrastructure in the long term;(2)the two types of infrastructure development have a significant role in promoting the expansion of the government's public financial revenue and the improvement of the financial development level;(3)the adoption of variance Further research shows that,in the long run,the impact of financial development on infrastructure is greater than that of public financial status on infrastructure;among them,the impact of social infrastructure on financial development is greater than that of public financial status,while the impact of economic infrastructure on public financial status and financial development is not significantly different.It is suggested that: on the one hand,based on its own public financial capacity,the government should promote PPP financing mode,increase financial and policy support,and steadily promote infrastructure construction;on the other hand,it should encourage financial institutions to increase their support for infrastructure construction,so as to provide strong financial support for infrastructure construction.