投资水平与经济高质量发展：挤出效应真的存在吗

Investment and High-Quality Economic Development——Does Squeeze-out Effect Really Exist?

将绿色发展理念加入到理论分析模型,利用Malmquist指数构建改革开放四十年来的经济高质量发展指数,具体包含综合高质量发展、创新高质量发展和环境高质量发展三个内容,并利用实证分析模型揭示投资与经济高质量发展的关系。通过研究认为,经济高质量发展就是弱化投资的论点是不成立的;弱化的应该是高耗能高污染的投资,而高质量的投资和有效性投资应该是鼓励的;从不同时间段和不同地区的估计结果来看,当前时期投资依然是高质量发展的有利因素,但是中西部地区的投资要体现在产业结构调整和创新绿色发展能力提升上。

Introducing the concept of green development into the study of high-quality economic development and using Malmquist index to measure and evaluate the high-quality development from 1978 to 2018, especially after the18 th National Congress,we divided high-quality development into three aspects: comprehensive high-quality development,innovation high-quality development and environmental high-quality development, Empirical study reveals the effect of investment quantity change and effective investment on high-quality economic development. According to the research, the argument that high-quality economic development is the weakening of investment is not valid;Weakening should be investment with high energy consumption and pollution, while investment with high quality and effectiveness should be encouraged;From the estimation results of different periods and regions, investment is still a favorable factor for high-quality development in the current period, but the investment in the central and western regions should be reflected in the adjustment of industrial structure and the improvement of innovation and green development ability.