Many literature studies have shown that government has an impact on investment,including government efficiency in public spending,private investment enthusiasm,scale and human capital. On the other hand,some studies show that investment has a significant impact on economic growth. Hence,does cor-ruption have an impact on long-term economic growth through investment?This paper,by using 1997-2013 provincial panel data of 31 provinces,constructs static and dynamic models between the corruption,investment and economic growth,and the GMM estimation method is used to estimate the parameters in dynamic model. Conclusion implies that investment has a significant positive effect on economic growth and corruption has a negative effect on economic growth through investment.%众多研究表明政府会通过多种途径对各类投资产生影响，包括政府公共支出效率、私人投资积极性、外国直接投资的规模和人力资本等。然而腐败是否通过投资对长期经济增长产生影响？利用1997-2013年31个省级区域面板数据，构建腐败、投资规模和经济增长的静态和动态模型，并运用GMM估计方法对动态模型中的参数进行估计。研究结果表明，投资对经济增长有明显的正向作用，而腐败通过降低企业投资积极性、削弱投资对经济增长的贡献程度，对经济增长产生负的效应。
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