腐败对公共投资和经济增长的效应研究

公共投资对经济增长的积极效应为经济学家普遍认同,但是由于腐败的存在,这一问题变得比较模糊。为了研究公共投资、腐败和经济增长及其相互依赖的关系,我们构建了由关于经济增长、公共投资、腐败和私人投资四个方程组成的方程组,并利用三阶段最小二乘法实证分析了观测的面板数据。结论是:腐败增加了公共投资的水平,但是只有低腐败水平的国家才能享受到公共投资对经济增长的有效回报,而对于高腐败水平的国家,公共投资的效率因为腐败的存在而降低,以致于公共投资无法拉动经济增长。

Study of the Effects of Corruption on Public Investment and Economic Growth

The positive effects of public investment on economic growth have been universally acknowledged by economists.But corruption has blurred such effects.To study the interrelationship between public investment,corruption and economic growth,we construct the four-equation set concerning economic growth,public investment,corruption and private investment.With the help of three-stage least squares we conduct empirical analysis of the panel data.The conclusion is that: corruption increases the level of public investment but only the country with low degree of corruption can enjoy the effective return of economic growth from public investment;for highly corrupted countries,the efficiency of public investment is driven down by corruption so that the public investment fails to fuel the economic growth.