[摘　要]　通过验证我国地方政府水利投资与经济发展之间存在“倒U型”关系，确定地方政府水利投资的最优规模，以检验水利发展是否因投资不足而滞后及现有投资规模与最优规模之间的差距。实证结果显示，我国地方政府水利投资规模小于最优规模，西部地区尤为明显。地方政府应进一步加大对水利设施的投资力度，以满足经济社会发展的需要。

[关键词]　地方政府；水利投资；投资不足；“倒U型”曲线

Abstract: The paper verified that a “inverted U-shaped” relationship exists between water conservancy investment of the local government and economic development, from which the optimal scale can be determined, aim to test whether the lag of water conservancy development owes to the insufficient investment, and how wide the gap is between the existing and the optimal. The empirical results show that the investment scale in china is less than the optimal, especially in the western region. Therefore the local government should intensify investment in water conservancy facilities, to meet the needs of economic and social development. 

Key words: the local government; water conservancy investment; insufficient investment; inverted U-shaped

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建筑经济，2013（12）：104-108