中文摘要：

经济学理论认为基础设施作为一种资本投资，既可以直接促进经济的发展，又可以通过其溢出效应间接促进经济增长。利用C-D生产函数对湖北省1996--2010年间的基础设施投资数据进行实证研究。结果显示：湖北省1996—2010年间农村基础设施投资的产出弹性为0．106，一般固定资产投资的产出弹性为0．704，农村劳动力的产出弹性为0．296；虽然湖北省农村基础设施投资的产出弹性不及一般固定资产投资和劳动力的产出弹性，但是对于湖北农村经济总量函数有着规模报酬递增的作用。政府应集中资本发展具有前后向关联较大、短期投资回报较快的直接生产部门；但同时也应维持基础设施部门一定的投资规模，为直接生产部门和湖北农村经济进一步发展给予物质保障和动力支撑。

英文摘要：

Economic theory considers that as a capital, infrastructure investment can either promote economic development directly, or promote economic development through its spillover effects indirectly. This paper makes an empirical research on infrastructural investment data in Hubei between 1996 and 2010 by using C-D production function. The result shows that the output elasticity of rural infra- structure investment is 0. 106, while the output elasticity of general fixed assets investment is 0. 704, and the output elasticity of rural labor force is 0. 296. Although the output elasticity of rural infrastructure investment is less than the output elasticity of general fixed assets investment and rural labor force, it plays a role in increasing returns to scale in the total function of Hubei rural economy. Therefore, this paper points out that the government should focus capital on direct production divisions which have large forward and backward linkages as well as quick return of short term investment. Meanwhile, the government should also maintain certain investment in the infrastructure divisions in order to provide material guarantee and support to the further development of direct production divisions and rural economy of Hubei province.