Public Expenditure and the Transformation of Economic Growth Pattern of China:An Empirical Analysis Based on Panel Data of China's Provinces

The theoretical analysis indicates that public expenditure can have positive impact on TFP through correcting the external effect of private investment,so as to accelerate the transition of economic growth pattern.At the same time,it can also simply stimulate private investment and the inputting of labor and nature resources,and therefore intensify the extensive economic growth pattern.By making use of panel data of China's 30 provinces(except Tibet),and based on the FMOLS technique,we investigated the influence of public expenditure on China's economic growth pattern.The empirical results indicate that the expansion of public expenditure has intensified the extensive economic growth pattern of China;the changing of the structure of public expenditure has no significant influence on the transformation of economic growth pattern of China,and the improvement of efficiency of the public expenditure has positive impact on the transformation of economic growth pattern of China.