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《Finance and Trade Research》 2009-06
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Research on Dynamic Effects of China's Provincial-Level Public Investment on Private Investment

HAN Ren-yue CHANG Shi-wang DUAN Chao(Economics School,Shandong University,Jinan 250100)  
Based on VAR model,the article investigates how public investment affects private investment. Empirical results show that public investment has crowd-in effect on private investment in eastern parts while crowd-out effect was obvious in midwest regions. Eastern parts benefit most from total effects. Different regions get different spillovers,due to the relative strength of absorption and proliferation effect at different development stages. Because of stronger absorption of central regions,the development of private investment in Henan,Fujian (long-term),and Guizhou (long-term),which neighbor two economic cycles,depend only on the inside public investment,which shows that provincial economy maybe the phenomenon of using neighbor's field as a drain.
【Fund】: 国家社会科学基金项目“基本公共服务均等化:基本理论与实证研究”(批准号:07BJY148)
【CateGory Index】: F224;F127
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