Macroeconomic impact of improving the quality of infrastructure in China:Analysis based on a dynamic general equilibrium model
YANG Peifei
WANG Ziben
TANG Jiayi
QIAO Jiayi
CHEN Hao
Abstract：The improvement of infrastructure quality is not only related to the long-term healthy development of the national economy,but also directly affects the quality of life of the people and the stability and prosperity of society.To further explore the macroeconomic impact of infrastructure quality improvement in China,this paper constructs a dynamic multisector general equilibrium model that fits the Chinese context.Through parameter calibration,the model is able to match the key characteristics of the Chinese economy and the economic transformation path.Counterfactual experiments are conducted to quantitatively analyze the contribution of infrastructure quality improvement to economic growth from 2002 to 2017.The results show that between 2002 and 2017,the improvement of infrastructure quality made a significant positive contribution to economic growth,increasing China's average annual output growth rate by 0.24％.This study demonstrates the importance of improving infrastructure quality for economic development from a general equilibrium perspective,providing research references for global infrastructure construction and economic development strategies.
Keywords：infrastructure qualityeconomic growthdynamic general equilibrium modelmacroeconomicoutput growth rate
Publication Date：2025-03-28
Online Publishing Date：2025-08-15(First online date of this platform, not the publication date of the document)
Pages：10( 103-112 )