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Then, it brings the public investment and public capital into the extended Cobb-Douglas production function and explores the mechanism of public investment affecting economic growth from the regional perspective. Furthermore, through the analysis of the Local Government Financing Vehicles (LGFVs) as the major investor of local public investment during the last two decades, This paper confirms the importance of complementary factors such as institutional innovation and effective management of the public infrastructure in making public investment an \u201ceffective catalyst for growth\u201d (Kessides, 1993). <\/jats:p>","DOI":"10.1142\/s0129054122420126","type":"journal-article","created":{"date-parts":[[2022,8,22]],"date-time":"2022-08-22T06:15:06Z","timestamp":1661148906000},"page":"735-753","source":"Crossref","is-referenced-by-count":2,"title":["Recomputation of Public Capital Based on PIM and the Effect on China Regional Economic Growth"],"prefix":"10.1142","volume":"33","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-4689-1545","authenticated-orcid":false,"given":"Zeqiang","family":"Ni","sequence":"first","affiliation":[{"name":"School of Economics and Management, Hefei University, Hefei, Anhui 230601, P. 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