Total Investment in Fixed Assets and the Later Stage of Urbanization: A Case Study of Shanghai

After more than 40 years’ opening-up and reform, China’s urbanization has entered a new type of urbanization. In order to reveal the rule different infrastructure investments relationships, this paper uses Shanghai as case by applying econometric methods study detailed relationship between indicators from 1990 2019. Firstly, we quantify that each variable long-term co-integration with test. And found real estate is main driving force while construction project investment plays an important role in promoting rate studied period. Secondly, according Granger test, our illustrates bilateral causality impact on variables. Thirdly, based impulse response test variance decomposition analysis, other variables accounts for majority percentage impacts total fixed assets its three categories contribute small amount rate. Finally, propose policy suggestions strengthen healthy development Shanghai.