ABSTRACT
With the rapid growth of the national economy, the process of urbanization in
China is accelerating, and the demand of residents for urban infrastructure is increasing
day by day. However, in recent years, due to the gradual slowdown of economic growth,
the growth of government revenue has dropped. The central government strictly
controlled the debt burden of local governments and strengthened the regulation of the
real estate market, therefore the mode of relying on traditional financing channels to
promote infrastructureconstruction could notbe sustained andthe shortageof
constructionfundsbecameincreasingly serious.Thestudyoftheinteractive
relationship among credit issuance, land finance and urban infrastructure has theoretical
significance and practical values for making full use of fiscal and financial policy means,
promoting the innovation of infrastructure project financing mode, and accelerating the
process of urbanization.
Based on the data of 35 large and medium-sized cities in China from 2010 to 2019,
a comprehensive evaluation index system including 5 primary indicators and 12
secondary indicators is constructed by using the entropy method to calculate the
development level of urban infrastructure. The panel vector auto regression model was
established to analyze the dynamic effects of credit issuance, land finance and urban
infrastructure level. Besides, comparative studiesof eastern, central and western
regions are carried out to investigate the differences between different regions. Finally,
putforward countermeasuresandsuggestionstoimprovethe levelofurban
infrastructure.
The results show that the overall level of urban infrastructure in China is increasing
year by year, but there are obvious differences among cities, showing the characteristics
of decreasing from east to west. (1) At the national level, credit issuance and land
finance have a positive effect on the level of urban infrastructure for a long time, while
the improvement of urban infrastructure has a promoting effect on land finance and
credit issuance, and the impact on land finance is more significant. (2) At the regional
level, urban land finance in the eastern and central regions has a positive effect on
infrastructure, andurban credit inthe westernregion has apositive effect on
infrastructure. On the other hand, urban infrastructure in the eastern and central regions
has a positive effect on land finance, and urban infrastructure in the western region has
a positive effect on credit issuance. It is suggested that: (1) Give full play to the
supporting role of credit funds in urban infrastructure construction, and encourage and
guide private capital to participate in investment in various way. (2) Improve the long-
term mechanism of financial funds to support urban infrastructure construction and
reduce the dependence on land finance. (3) Formulate differentiated fiscal and financial
policies to support the balanced development of urban infrastructure in different regions.
Key words:creditissuance; landfinance; infrastructure;panel dataauto
regression model
目录
第一章引言 ................1
1.1研究背景及意义................1
1.1.1研究背景..................1
1.1.2研究意义..................2
1.2文献综述 ............... 3
1.2.1基础设施水平及差异分析 ..............3
1.2.2影响基础设施建设的因素 ..............4
1.2.3信贷投放、土地财政与基础设施建设.............5
1.2.4文献评析..................7
1.3研究内容与方法................8
1.3.1研究内容..................8
1.3.2研究方法..................9
1.4创新与不足................10
第二章我国城市基础设施建设的理论分析 ........... 11
2.1基本概念界定 .................. 11
2.1.1城市基础设施.............11
2.1.2地方政府融资平台...........13
2.1.3信贷投放...............14
2.1.4土地财政...............15
2.2信贷投放、土地财政与城市基础设施建设的内在机理....15
2.2.1政府融资平台与城市基础设施建设........16
2.2.2信贷投放与城市基础设施建设..........16
2.2.3土地财政与城市基础设施建设..........17
2.2.4信贷投放、土地财政与城市基础设施...........18
2.3研究假设 .................... 19
2.4本章小结 .................... 19
第三章我国城市基础设施发展现状分析.........20
3.1我国基础设施建设概况..............20
3.1.1我国基础设施投融资政策演变..........20
3.1.2我国城市基础设施投融资模式..........22
3.1.3我国基础设施项目融资面临的问题........25
3.2我国城市基础设施发展现状............26
3.2.1城市环境基础设施............26
3.2.2城市交通基础设施............28
3.2.3城市邮电基础设施............29
3.2.4城市供排水基础设施 .............. 30
3.2.5城市能源基础设施............32
3.3我国城市基础设施发展水平评价..........33
3.3.1城市基础设施水平测度方法...............33
3.3.2指标选取与权重分析 .............. 35
3.3.3城市基础设施水平综合评价...............36
3.4本章小结 .................... 38