EFFECTS OF INFRASTRUCTURE INVESTMENTS ON ECONOMIC GROWTH

Total investment in infrastructure,investments in transportation and storage as well as postal service and communications,and investments in the production and supply of electricity,natural gas and water have relatively big and everlasting positive effects on output,and the time lag is also relatively short.Investments in the production and supply of electricity,natural gas and water have even greater effects on output,and have relatively big positive effects on the investments in transportation and storage as well as postal service and communications.These important characteristics in our country's infrastructure investments have important implications for the making and carrying out of our country's macroeconomic policies and the choice of the areas for infrastructure investments.