Positive Analysis of the Relationship between China's Government Investment and Nongovernment Investment Under the Background of Financial Crisis

摘要

Under the background of Financial Crisis, it is very important to make use of the governmental investment and state policy to incentive private investment, arousing folk capital and making people living rich, so as to expand domestic demand and promote China's economic development healthy, steady and rapidly? Whether the government's "four trillion economic plan" has produced crowd-out effect on private investment? This paper adopting monthly data from 2006 to 2009, establishing VAR econometric models, shows that governmental investment is not obviously spur the non-governmental investment. Governmental investment has a certain stimulative effect on non-governmental investment and economic growth in the case of today's financial crisis.