This copy and paste from one of my articles addresses how alk relates to coral growth:
Unlike the calcium concentration, it is widely believed that certain organisms calcify more quickly at alkalinity levels higher than those in normal seawater. This result has also been demonstrated in the scientific literature, which has shown that adding bicarbonate to seawater increases the rate of calcification in some corals. Uptake of bicarbonate can consequently become rate limiting in many corals. This may be partly due to the fact that the external bicarbonate concentration is not large to begin with (relative to, for example, the calcium concentration, which is effectively about 5 times higher).
For these reasons, alkalinity maintenance is a critical aspect of coral reef aquarium husbandry. In the absence of supplementation, alkalinity will rapidly drop as corals use up much of what is present in seawater. Water changes are not usually sufficient to maintain alkalinity unless there is very little calcification taking place. Most reef aquarists try to maintain alkalinity at levels at or slightly above those of normal seawater, although exactly what levels different aquarists target depends a bit on the goals of their aquaria.
Interestingly, because some corals may calcify faster at higher alkalinity levels, and because the abiotic (nonbiological) precipitation of calcium carbonate on heaters and pumps also rises as alkalinity rises, the demand for alkalinity (and calcium) rises as the alkalinity rises. So an aquarist generally must dose more calcium and alkalinity EVERY DAY to maintain a higher alkalinity (say, 11 dKH) than to maintain 7 dKH. It is not just a one-time boost that is needed to make up that difference. In fact, calcification gets so slow as the alkalinity drops below 6 dKH that reef aquaria rarely get much below that point, even with no dosing: natural calcification has nearly stopped at that level.
In general, I suggest that aquarists maintain alkalinity between about 7-11 dKH (2.5 and 4 meq/L; 125-200 ppm CaCO3 equivalents). Many aquarists growing SPS corals and using Ultra Low Nutrient Systems (ULNS) have found that the corals suffer from "burnt tips" if the alkalinity is too high or changes too much. It is not at all clear why this is the case, but such aquaria are better served by alkalinity in the 7-8 dKH range.
As mentioned above, alkalinity levels above those in natural seawater increase the abiotic precipitation of calcium carbonate on warm objects such as heaters and pump impellers, or sometimes even in sand beds. This precipitation not only wastes calcium and alkalinity that aquarists are carefully adding, but it also increases equipment maintenance requirements and can "damage" a sand bed, hardening it into a chunk of limestone. When elevated alkalinity is driving this precipitation, it can also depress the calcium level. An excessively high alkalinity level can therefore create undesirable consequences.