固定资产投资与经济增长关系的实证研究——基于三部门视角的分析

An Empirical Study of the Relationship Between Investment in Fixed Assets and Economic Growth——From the Perspective of Three Sectors

基于1992—2012年我国国有、民营和外商投资三部门固定资产投资和国内生产总值年度数据,通过建立向量自回归(VAR)模型,对三部门固定资产投资与经济增长之间的关系进行了分析。研究发现:三部门固定资产投资对经济增长均有正向影响作用,但反过来经济增长只对外商投资部门固定资产投资有显著的拉动作用;在贡献率大小方面,外商投资部门固定资产投资对经济增长的贡献作用最大,国有部门固定资产投资对经济增长的贡献作用次之,民营部门固定资产投资对经济增长的贡献作用最小。

Based on the data of investment in fixed assets and GDP of China＇ s state--owned sector, private sector and foreign investment sector from 1992 to 2012, the paper establishes vector auto regression （VAR） model to analyze the relationship between investment in fixed assets of three sectors and economic growth. The results show that investment in fixed assets of three sectors has positive impacts on economic growth, but economic growth only has a great pushing effect on investment in fixed assets of foreign investment sector. Investment in fixed assets of foreign investment sector makes the greatest contributions to economic growth. Contributions of investment in fixed assets of state-owned sector to economic growth get the second place. Investment in fixed assets of private sector makes the smallest contributions to economic growth.