Whether Fixed Investment in Cities Can Still Boost Urban Economic Growth
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This paper uses the panel data of Chinese cities from 1993 to 2017 to examine the impact of urban fixed asset investment on urban economic growth at different stages. The study found that from 1993 to 2017, China's urban fixed asset investment promoted economic growth, and the promotion effect was an “N” change. Further analysis shows that the higher the city's administrative level, the less obvious the role of fixed asset investment in promoting economic growth; Fixed asset investment in eastern and central cities has no significant driving effect on economic growth, while fixed asset investment in western cities has a strong economic growth effect. In addition, the stage of economic growth, national policy orientation, the size of urban capital stock, and the degree of industrialization all have an impact on the economic growth effect of fixed asset investment. Based on the conclusions of the study, this article puts forward policy recommendations to improve the efficiency of urban fixed asset investment.
Investment in fixed assets, Economic growth, Urban investment