guizhou province public investment on economic growth empirical analysis（贵州省公共投资对经济增长的实证分析）.docVIP

Guizhou Province Public Investment on Economic Growth Empirical Analysis Abstract: This paper first reference the Cobb - Douglas (Cobb-Douglas, referred to as the CD production function, and empirical analysis model built on this basis, the use of public investment in Guizhou Province 1990-2009 annual data, using regression analysis, cointegration analysis and Granger causality test analysis reveals that the stock of public investment and GDP both in Guizhou existence of mutually reinforcing two-way causal relationship, a higher output elasticity of public investment capital, its role in boosting economic growth and come to the aggregate production function non-public investment in stock and employment for the constant returns to scale, increasing returns to scale for all factors of production. Keywords: public investment, economic growth, the output elasticity I. Introduction From Guizhou since the reform and opening up 30 years of development, Guizhou’s economy fast development, In addition to the factors to optimize the allocation of resources to stimulate the economic agents vitality from a planned economy to a market economy, the gradual improvement of public investment, government emphasis on public investment is undoubtedly one of the important factors. In order to achieve the sustainable use of public investment, sustainable economic development, on the basis of summing up the results of previous studies, Guizhou economic development data, empirical analysis of Guizhou Province, the construction of public investment on economic growth, as well as the existing problems on the economy the adverse effects of growth, give advice, to coordinate the relationship between public investment and industrial development, to evaluate the rationality of public investment to exploit its advantage, optimizing the investment policy options and institutional arrangements for the sound development of public investment some theoretical basis, at the same time ma