Analysis of the Contribution of China's Transportation Infrastructure Investment to Output under the Background of Global Value Chain
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Based on the data of investment and the gross output of transportation infrastructure of 31 provinces and cities in China in 1998-2017, the empirical analysis of the spatial durbin model shows that the transportation infrastructure investment of our provinces has multiplier effect and spatial spillover effect on output. Transportation infrastructure investment as a kind of government expenditure will have a positive multiplier effect on economic growth. At the same time, the increase of transportation infrastructure investment will make transportation developed, resulting in the flow of production factors to transportation developed areas. It will have a negative effect on the economy of other areas.
Transportation infrastructure investment; Output; Spatial durbin model; Spillover effects