金融发展对交通基础设施投资效率影响的实证分析

An Empirical Analysis on the Impact of Financial Development on the Investment Efficiency of Transport Infrastructure

交通基础设施投资效率对于交通基础设施发展的重要性越来越明显,金融发展对交通基础设施投资效率具有重要的影响。为了提高我国交通基础设施的投资效率,构建计量模型实证分析金融发展对交通基础设施投资效率的影响。通过计量方法的检验,选择随机效应模型估计方法对模型进行估计。结果表明,2006—2016年间我国金融深度水平每上升1个单位,交通基础设施投资效率提高0.024?8个单位;金融相关比率每上升1个单位,交通基础设施投资效率提高0.037?4个单位。计算结果显示,促进金融发展对交通基础设施投资效率提高具有极大作用。

The investment efficiency of transport infrastructure is becoming more and more important to the development of transport infrastructure, which is influenced by the financial development. To improve the investment efficiency of transport infrastructure in China, this paper constructs an econometric model to analyze the impact of financial development on the investment efficiency of transport infrastructure. Through the test of measurement method, we choose a random effect model estimation method to estimate the model. The empirical analysis shows that the level of China＇s financial depth increased by 1 unit every year from 2006 to 2016, which will lead to the efficiency of transport infrastructure investment increased by 0.024 8 units, and financial related ratios increase by 1 unit, and the investment efficiency of transport infrastructure is increased by 0.037 4 units. The calculating results show that promoting financial development plays a great role in improving the investment efficiency of transport infrastructure.