How Infrastructure Investment Composition Affects Industrial Structure Optimization——Based on the Perspective of Economic and Social Infrastructure
Based on the China's provincial panel data from 2003 to 2021,this research studied the impact of infrastructure investment composition on industrial structure optimization.The findings indicate that infrastructure investment inhibits industrial structure optimization,social infrastructure investment pro-motes industrial structure optimization,and economic infrastructure investment inhibits industrial structure optimization.Mechanism analysis found that economic infrastructure investment suppresses industrial struc-ture optimization through human capital crowding out and agglomeration effects,while social infrastructure investment promotes industrial structure optimization through innovation effects and fiscal revenue structure effects.Regional heterogeneity analysis found that the inhibitory effect of economic infrastructure invest-ment on industrial structure optimization is strongest in the western region,while the promoting effect of so-cial infrastructure investment on industrial structure optimization only exists in the western region.Analysis of temporal heterogeneity found that the inhibitory effect of economic infrastructure investment on industrial structure optimization has weakened in the later stages of industrialization,while social infrastructure in-vestment can promote industrial structure optimization in all stages of industrialization.The research con-clusion demonstrates the important role of infrastructure investment composition in the process of industrial structure adjustment and optimization,providing theoretical support and empirical evidence for adjusting the supply structure centered on industrial structure and promoting high-quality economic development.
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