Transport Infrastructure Investment,Regional Economic Growth and the Spatial Spillover Effects——Based on Highway and Marine's Panel Data Analysis

The paper investigates the effects of highway and marine's fixed capital stock on regional growth using the provincial panel data during 1978—2008.Briefly,we find:①The highway and marine's capital stock's effect on local region's economic growth is positive,but after 2001,the effect is negative.②The lag effects of highway and marine's fixed capital are not obvious,but in the 2001—2008 period,but in 2001—2008,the effect of the lag five stage's highway and marine's capital stock on local region's economic converted from negative to positive.③The highway and marine's capital has notable positive spillovers from the overall view.The spatial spillover effect is related to the characteristics of the regional economic development from the sub-regional view.Other area's highway and marine's fixed capital stock has significant spatial spillover effect for the eastern region.Other area's highway and marine's fixed capital stock's spatial sillover effect changes from negative to positive for the central region,while for the western region,Other area's highway and marine's fixed capital stock's spatial spillover effect is positive before 1995,and not significant after 1995.To reduce regional disparities,the spatial correlation between transport infrastructure and economic growth should be thought in policy making process.