Empirical Study on the Impact Factors of the Investment Efficiency of Urbanization Construction in Guizhou Province, China

Abstract

Studying on the impact factors of urbanization construction investment efficiency in Guizhou Province is helpful to improve the urbanization construction investment efficiency, and enhance the level of urbanization in Guizhou Province, China. The Group Method of Data Handling algorithm (GMDH) is used to empirically study on the impact factors of urbanization construction investment efficiency in Guizhou province. Empirical results show that, the main factors affecting the efficiency of urbanization construction investment in Guizhou Province includes the level of economic development, the level of urbanization of the previous period and the development of financial institutions in Guizhou Province. There is a nonlinear relationship between the impact factors and the investment efficiency of urbanization construction in Guizhou Province. The level of economic development, the level of urbanization of the previous period and the development of financial institutions in Guizhou province have positive effects on the investment efficiency of urbanization construction in Guizhou Province. Their effects are large. The impact of the development of financial institutions on urbanization construction investment efficiency in Guizhou Province is mainly through its interaction with the development of economy.