Shanghai,the largest and the most developed city in China,has experienced a rapid economic development in the recent ten years.It has entered into a post-industrial era,in which the manufacturing industry is quickly l...Shanghai,the largest and the most developed city in China,has experienced a rapid economic development in the recent ten years.It has entered into a post-industrial era,in which the manufacturing industry is quickly leaving.The proportion of real economy based on manufacturing is decreasing continuously,whereas the proportion of virtual economy based on service and financial industry is increasing.This is a typical phenomenon of hollowing-out of industry.If this trend cannot be controlled,the excessive reliance on virtual economy may make Shanghai more fragile when facing economic crisis on a large scale.This paper analyzes the influence of specific performance factors of hollowing-out of industry on Shanghai’s regional economic growth through empirical research and provides policy suggestion on how to achieve higher economic growth.This paper selects monthly time series data from January 2003 to February 2017 in Shanghai and analyzes the relation between factors of hollowing-out of industry and Shanghai’s economic growth by OLS.Empirical results show that the purchasing power index of industrial producers and gross import have a positive relation with economic growth,while the investment in fixed asset and the cost of land and human resource have negative effects on economic growth.展开更多
文摘Shanghai,the largest and the most developed city in China,has experienced a rapid economic development in the recent ten years.It has entered into a post-industrial era,in which the manufacturing industry is quickly leaving.The proportion of real economy based on manufacturing is decreasing continuously,whereas the proportion of virtual economy based on service and financial industry is increasing.This is a typical phenomenon of hollowing-out of industry.If this trend cannot be controlled,the excessive reliance on virtual economy may make Shanghai more fragile when facing economic crisis on a large scale.This paper analyzes the influence of specific performance factors of hollowing-out of industry on Shanghai’s regional economic growth through empirical research and provides policy suggestion on how to achieve higher economic growth.This paper selects monthly time series data from January 2003 to February 2017 in Shanghai and analyzes the relation between factors of hollowing-out of industry and Shanghai’s economic growth by OLS.Empirical results show that the purchasing power index of industrial producers and gross import have a positive relation with economic growth,while the investment in fixed asset and the cost of land and human resource have negative effects on economic growth.
