非房地产开发投资对建筑业发展的影响研究
Research on the Impact of Non-Real Estate Development Investment on the Development of Construction Industry

基于2005年至2021年我国各省、自治区及直辖市的面板数据，本文实证研究了固定资产投资各领域对建筑业发展的影响。结果表明，制造业固定资产投资和基础设施投资等非房地产开发投资均能有效促进建筑业增加值的增长，其促进作用优于房地产开发投资。制造业固定资产投资占比对建筑业劳动生产率虽无显著的影响，但其中的高端制造业投资占比对建筑业劳动生产率具有显著的促进作用，基础设施投资占比和高端制造业投资占比对建筑业劳动生产率的促进作用优于房地产开发投资占比。分组回归发现，技术装备水平高的建筑业企业倾向于承建制造业投资项目和基础设施投资项目，技术装备水平低的建筑业企业倾向于承建房地产开发投资项目。中介效应分析发现，房地产开发投资占比过高会抑制建筑业技术装备率，从而不利于建筑业劳动生产率的提升，而基础设施投资占比的提升可以促进建筑业技术装备率，进而提高建筑业劳动生产率。在国家“脱虚向实”，大力发展新质生产力和鼓励高端制造业投资的背景下，建筑企业应该积极向新型基础设施、高端制造业等非房地产领域开拓业务，提升高端制造业项目的工程承包能力。
Based on the panel data of China’s provinces, autonomous regions and municipalities from 2005 to 2021, this paper empirically studies the impact of various fields of fixed assets investment on the development of the construction industry. The results show that non-real estate development investments such as manufacturing fixed assets investment and infrastructure investment can effectively promote the growth of the added value of the construction industry, and their promotion effect is better than real estate development investment. Although the proportion of fixed assets investment in manufacturing industry has no significant impact on labor productivity in construction industry, the proportion of high-end manufacturing investment has a significant role in promoting labor productivity in construction industry. The proportion of infrastructure investment and the proportion of high-end manufacturing industry have a better positive effect on labor productivity of the construction industry than the proportion of real estate development investment. Grouping regression shows that construction companies with high levels of technical equipment tend to undertake manufacturing investment projects and infrastructure investment projects, while construction companies with low levels of technical equipment tend to undertake real estate development projects. The intermediary effect analysis indicates that a high proportion of real estate development investment will restrain the construction industry’s technological equipment rate, which is not conducive to the improvement of labor productivity of the construction industry. However, an increase in the proportion of infrastructure investment can promote the construction industry’s technological equipment rate and thereby improve labor productivity in the construction industry. Under the background of the country’s “shedding emptiness to reality”, vigorously developing new quality productivity, and encouraging