Empirical Study on Effect of Industrial Structure Change on Regional Economic Growth of Beijing-Tianjin-Hebei Metropolitan Region

Based on the data of gross domestic product(GDP),industrial added value and the proportion of industrial employees from 2000 to 2008,this paper studies the effect of industrial structure change on the regional economic growth of Beijing-Tianjin-Hebei Metropolitan Region in China using the shift-share method.The results show that:1) In the 21st century,the industrial output of three industries,namely,primary,secondary,and tertiary,and the GDP grew rapidly in the study period.The tertiary industry grew the fastest;it had the largest contribution to the GDP and mean-while had become the most competitive industry in the metropolitan region.2) The development of cities within the region was not balanced.Firstly,compared with Tianjin,Beijing,as one of the two core cities,was more rational in the industrial structure.Secondly,the surrounding eight cities,which are Shijiazhuang,Qinhuangdao,Tangshan,Langfang,Baoding,Cangzhou,Zhangjiakou,and Chengde,were all uncompetitive than the two core cities.3) There was a great industrial gradient in the region(especially between the two core cities and the cities of Tangshan,Baoding,Zhangjia-kou,Chengde,Cangzhou,and Langfang).As a result,it is foreseeable that the industry transfer in the Bei-jing-Tianjin-Hebei Metropolitan Region will be one of the trends in regional development,and the industry transfer is inevitably to promote the regional integration.

A research on the evolvement of industrial structure and economic growth of He'nan Province,China

This paper, based on the investigation of the statistics in the years of 1980-2005, using Shift-Share Method model, studies systematically the relation between the evolution of industrial structure and regional economic growth in five economic regions in He＇nan to offer the foundation of policy for optimizing the industrial structure and promoting regional economic development in phase, and thereby comes to the conclusions： （1） the industrial structure level of He＇nan, in comparison with the evolution of the industrial structure across the country, remains low, but yet the evolutional tendency of industrial structure in He＇nan complies with the Clark taw of the industrial structure evolution; （2） the spatial difference of He＇nan industrial structure evolution is comparatively large, （3） the evolution of industrial structure in He nan that influences economic growth can be categorized into three types： in eastern and southern regions, the shift-share of the industrial structure is negative, and the shift-share model of competitiveness is negative, in western and central regions, the shift.share of the industrial structure is positive, and the shift-share model of competitiveness is positive; in northern regions; the shift-share of the industrial structure is positive, and the shift-share model of competitiveness is negative： （4） the evolution of industriai structure influences greatly the development of the regional economy of He nan As the results of the researches shown, it can innovation of He＇nan tra：ditional industry with high-tech the vast development of the tertiary industry, the expansion of He＇nan overall level o industrial structure, the growth of deep-processing manufacturing of agricultural products, and the increase of He＇nan agricultural products subsidiary value Will be the strategic choices of the rearrangement of He＇nan industrial structure.

An Empirical Study of the Relationship among Population Mobility Industrial Structure Upgrading, and Economic Growth-Based on the SPVAR Model

Based on the inter-provincial panel data for 31 provinces in China from 2000 to 2019,and incorporating geospatial factors,a spatial panel vector autoregressive(SPVAR)model consisting of population mobility,industrial structure upgrading,and economic growth is constructed.The space-time impulse response function is used to analyze the space-time conduction of exogenous variables on the impact of three endogenous variables.The study found that first,the population influx barely benefited the industrial structure upgrading and economic growth.Second,the upgrading of the industrial structure would aggravate the population mobility in the province,causing low-level laborers to leave the province in shortterm,but in long-term,there would be influx of talents.Third,the economic growth in developed regions plays a significant role in promoting the industrial development of their province and population-rich provinces,but it has less impact on provinces with high-level industrial structure.Finally,policy recommendations are provided in regard to the benign interaction among population mobility,industrial structure upgrading,and economic growth in addition to clarifying the idea of economic development,implementing correct population policies,and promoting the coordinated regional development.

Economic Growth and Interaction between Financial and Industrial Structure - Empirical Analysis on Provincial Panel Data

In recent years, China's economic growth speed has been slowing down, leading to the problems of overcapacity and unbalanced regional economic development, and the mismatch between industrial and financial structure is becoming intense. Therefore, this paper, starting with the relationship among economic growth, industrial structure and financial structure, summarizes the research by the former scholars. On this basis, by using data of 31 provincial panel data in China from 2007 to 2016, the article aims to find out the relationship between the industrial structure and economic growth, the relationship between the financial structure and economic growth and the relationship between the interaction of financial and industrial structure and economic growth. Finally, the corresponding policy recommendations are obtained following the systematical empirical conclusions. The conclusions of this paper are as follows:(1) developing indirect financing mode can effectively drive China's economic growth.(2) continuing to develop the second industry can play a catalytic role in the economic growth in most areas of China.(3) the interaction between the financial structure and the industrial structure can promote the economic growth significantly. However, the matching effect of the financial structure and industrial structure in China has not been completely formed, and the industrial upgrading should be guided to be structurally reformed through the policy.

The Relationship Analysis between The Economic Growth and The Industrial Structure in Shandong Province

There is a close relationship between the economic growth and the transformation of industrial structure.This paper states the current situation of the economic growth and the industrial structure in Shandong Province,and analyses the relationship between them.Finally it proposes countermeasures which can help achieve a coordinated development of the economic growth and the industrial structure in Shandong Province.

Insurance market density and economic growth in Eurozone countries:the granger causality approach

Background:This study examines the relationship between insurance market density(IMD)and economic growth.Methods:We employed Granger causality technique in 19 Eurozone countries for the period 1980-2014.We use three different indicators of IMD,namely life insurance density,non-life insurance density,and total insurance density.We particularly emphasize on whether Granger causality runs between IMD and economic growth both ways,one way,or not at all.Results:Our empirical result recognizes the presence of both unidirectional and bidirectional causality between insurance market density and economic growth.However,these results are mostly non-uniform across Eurozone countries.Conclusions:This study holds important policy implications-economic policies should recognize the differences in the insurance market density and economic growth in order to maintain sustainable economic growth in the Eurozone.

Causality between bank’s major activities and economic growth:evidences from Pakistan

Background:Banking is an important sector of Pakistan’s economy.It is general consideration that bank’s major activities saving and lending have positive impact on economic growth.So the aim of this study is to investigate this consideration and also investigate that either growth led deposits and credits,or deposit and credits led growth means the purpose of this study is to investigate the direction of this relationship.Methods:Johansen test of Co-integration and Granger Causality is employed by using time series data of Pakistan from 1961 to 2013.Results:The results show that two major activities of banking sector that are saving and lending don’t have any long run or short run causality towards economic growth so the general consideration of positive impact of these activities proved wrong in case of Pakistan.However there is unidirectional causality running from GDP growth to credit provided by banking sector which shows that economic prosperity or economic growth will have a major impact on lending activities of banks meaning that demand following hypothesis is true for Pakistan in case of GDP and Bank’s credit or we can say that growth led Bank’s credit in Pakistan.Conclusions:Hence Government and central bank should make policies by keeping this fact in consideration that bank’s two major activities that are saving and lending does not have impact on GDP growth.There might be other factors which influence economic growth of Pakistan more than banking sector these activities,which can be bank’s profitability,human resource,technology,infrastructure and other sectors of the economy.However GDP growth affects bank’s lending activities so during high economic growth year central bank and private bank’s management should introduce easy loans for businesses and industries and during poor economic growth years personal loan’s new schemes should be introduce by banks.

Causality Relationship between Energy Consumption and Economic Growth in Brazil

This study has investigated the relationship between energy consumption and economic growth in Brazil during the period of 1980-2008. The co-integration test indicates a long-run equilibrium relationship between variables, andenergy consumption appears to be real GDP elastic. This elasticity suggests that energy consumption has a great positive influence on changes in income. The causality results from the error correction model reveal a unidirectional short-run causality from energy consumption to economic growth and a bidirectional strong causality between them. These findings suggest that Brazil should adopt a dual strategy of increasing investment in energy infrastructure, and stepping up energy conservation policies to reduce any unnecessary waste of energy, in order to avoid having a negative effect on economic growth by reducing energy consumption. In contrast, energy conservation is expected to increase the efficient use of energy and, therefore, enhance economic growth.

Quantifying the link between industrialization,urbanization,and economic growth over Kenya

Industrialization is a key element for economic growth in both developed and undeveloped countries.Due to globalization,the cause-effect between industrialization,economic growth and urbanization are changing.This study investigates the relationship between economic expansion,urbanization,and industrialization in Kenya using a quantitative methodology.Using World Bank economic indicator parameters,it focuses on understanding the complex interrelationships between these factors.Vector Autoregression(VAR)modeling is used to analyze the relationships between GDP,urbanization,and industrialization between 1990 and 2018.The Granger causality test is used to determine the causal linkages between GDP,urbanization,and industrialization.Results show that urbanization is increasing steadily across Kenya,with a high population in central,western,Rift valley,and coastal regions.The availability of agricultural land influences urbanization,with a significant positive relationship between the three parameters.The Granger causality test shows a unidirectional relationship between GDP,urbanization,and industrialization.A minimum of 20%is considered as the benchmark for urbanization to reduce both GDP and industrialization.Unplanned and rapid urbanization,accompanied by ecologically unfavorable industrialization schemes,threatens Kenya’s biodiversity.The study provides insight into the interconnection between the three pillars of the economy and the statistical models developed are useful in forecasting future trends.

Regional Financial Development and Regional Economic Growth: An Empirical Analysis of Suzhou City, China

There are many defects in researches on the relationship of the regional financial development (FD) and economic growth of China, such as simply assuming the causality direction, not highlighting financial institution, using incomplete financial indicator, etc. This article, taking Suzhou City of Jiangsu Province, China as a case, builds a simple model to study the level of FD from three aspects of financial scale, structure and institution. Three original indicators of PRIVY (private investment/aggregate investment), DEPTH (aggregate loan/GDP) and FDIVG (FDI/GDP) are used to construct the FD economic indicator through Principal Component Analysis approach. Then we use Granger method to analyze the relationship between the FD and the economic growth of Suzhou. Empirical test results show that the FD of Suzhou is the Granger reason of economic growth, while economic growth is not the reason for FD, because the relationship between the FD and the economic growth of Suzhou is just in the ″supply-leading″ period. In terms of Suzhou experiences, the local government should strengthen the protection of private investment, improve the institutional environment, and establish the reasonable financial structure. So we can concluded that FD could play a great role in promoting economic growth at the economy takeoff stage.

Financial innovation and economic growth in Bangladesh

Background:This study provides evidence for the financial innovation in the financial system that resulted in the economic growth of Bangladesh from 1980-2016.Methods:To capture the influence of financial innovation on economic growth,we estimated the long-run cointegration by applying Autoregressive Distributed Lag(ARDL)bound testing and Granger causality-based Error Correction Model(ECM)to capture the directional association.Results:The Test of Cointegration satisfied the existence of a long-run association between economic growth and the financial innovation proxies,which were the Domestic Credit to the Private Sector(DCB)as a percentage of the Gross Domestic Product and the Broad-to-Narrow Money(M2/M1)as a percentage of the Gross Domestic Product.Our results showed that in the long run,credit circulation to the private sector and monetary management play important roles in economic growth.We also found that the coefficients of the financial innovation proxy variables were positive and statistically significant both in the short run and long run.We also ran Granger causality tests to investigate the directional effect.This study confirmed the feedback causality between the economic growth and 2 proxies of financial innovation in the short and long run.The gross capital formation and trade openness contribute significantly to explaining the economic growth in Bangladesh.Conclusion:The government of Bangladesh should encourage financial innovation in the financial system,especially at financial institutions,so that access to financial services can easily provide for equitable development.The government should also encourage financial innovation in the capital market,which will assist in raising longterm capital for investment and expedite overall economic growth.

Double dividend of carbon intensity:environmental-quality improvement and sustainable economic growth

This paper established an equilibrium model including representative household,government,and eight industries,and two different environmental policy tools such as carbon intensity and carbon cap were added into the model.The paper points out that the carbon intensity policy imposed on major high-emission industries achieved double dividend of environmentalquality improvement and sustainable economic growth under the condition of proper constraint target.This result supports the environmental Porter hypothesis.This paper finds out that the double dividend is due to the fact that environmental governance policy leads to the rising price of resources and demand of labors,resulting in an effective redistribution of production factors among industries and sustainable economic growth.Furthermore,this paper estimates the marginal effect of economic structure on carbon emission and carbon intensity and provides targeted suggestions.

Does financial depth impact economic growth in North Cyprus?

This study purpose is to connect the proxy of financial development which is total banking sector’s deposits with the economic growth in North Cyprus.The reason for using the total deposit differently with the existing literature is because North Cyprus is bank-based financial system.Therefore,this study provides an analysis of the connection between finance-growth nexus in North Cyprus from 1978 through 2015,using the autoregressive distributed lag(ARDL)model and combined cointegration to evaluate and verify the relationship.In addition,this research added the inflation rate to the model specification to investigate the inflation-growth interaction.The results revealed that both methods of cointegration provided robust evidence for a long-run relationship between financial debt and growth.The ARDL long-run and short-run coefficients showed the positive impact of depth and the negative impact of inflation on economic growth,thereby confirming the strength of the financegrowth and inflation-growth connections.Moreover,financial depth had a larger coefficient than the inflation rate.Finally,the VECM Granger causality test provided evidence for unidirectional causality from the total deposits and inflation rate to economic growth in North Cyprus.These results are significant for the policymakers of North Cyprus because the findings show that economic growth can be improved by enhancing the deposit rates in the financial system.

The impact of bank lending on Palestine economic growth:an econometric analysis of time series data

Banking is an essential sector of Palestine’s economy.More credits provided by banks are considered to have a positive impact on economic growth so that the overall objective of this study is to examine the impact of bank lending on economic growth in Palestine.The study employs the Augmented Dickey-Fuller to test for stationarity in the time series,The Johansen co-integration,Vector Autoregressive Model and Vector Error Correction Model are employed to identify the long-run and short-run dynamics among the variables,and Granger causality test in order to determine the direction of causality.The study finds that a long run relationship exists among the variables and insignificant short run relationship.Also,the study findings show that there is unidirectional causality and runs from GDP to bank lending.The insignificant contribution of bank lending to GDP is attributed to the fact that banks are not highly interested in lending to the production sector of the economy due to the high level of risk.However,the primary empirical evidence reveals that bank lending doesn’t cause economic growth,but economic growth causes bank lending.

Financial Efficiency and Economic Growth in Thailand

This paper investigates the relationship between financial efficiency and economic growth in Thailand with annual time series during 1991-2015. Financial efficiency measures:(i) bank efficiency in intermediating savings to investment, as measured by the net interest margin (the accounting value of bank’s net interest revenue as a share of its average interest-bearing assets)(IMARGIN) and lending-deposit spread (ISPREAD);and (ii) operational efficiency measures, such as overhead costs to total assets;NONILIA while the percentage change of real GDP per capita (real gross domestic product [RGDP]) represents economic growth. The Augmented Dickey-Fuller Test (ADF) of the stationary test shows that all data are stationary at the first difference except ISPREAD is stationary at the second difference. Since all variables are not integrated at the same order, there are no short run and long run relationship between financial efficiency variables and economic growth. The pairwise Granger causality result with 1 lagged length selected by Akaike Information Criterion (AIC), shows that no causality between financial efficiency variables and economic growth and vice versa;and supports the “neutral hypothesis”. However, there is a one-way causality linkage between twofinancial efficiency indicators, lending and deposit interest rate spread, and the ratio of overhead costs to total assets. In other words, the banks’ profit from interest spread is used to improve bank efficiency, such as hiring more staff, increase number of branches, and automatic teller machines (ATMs) to improve bank services. Therefore, financial institutions should provide financial services to response customers’ needs as the commercialization and modernization of the economy.

Will Tertiary Industry Be the Drivin Force of China＇s Economic Growth？

Based on the analysis of inner motive of industrial structure evolution in developed countries after Worm War II and the contribution of primary, secondary and tertiary industries to economic growth at similar economic development stage as China is, this paper argues that the rising proportion of tertiary industry in developed countries after World War II is mainly caused by the price hikes in tertiary industry. During a similar economic development stage as China is, the secondary industry in both the U.S. and Japan contributed more than 60% to economic growth, thus became the driving force in real sense. This paper analyzes the change of industrial structure after 1978 and points out the gap in industrial structure when calculated by fixed price and current year＇s price. From 1978 to 2009, China＇s industrial priority was mainly transferred from primary industry to tertiary industry infixed price terms but shifted from primary industry to secondary industry in terms of current year＇s price. With a contribution rate of 68.8%, China＇s secondary industry is the chief driver of economic growth since 1978 and will continue to be so till 2020. As the tertiary industry can hardly be such a driver, the increase in tertiary industry proportion is insignificant to real economic growth, so it is not necessary for China to put tertiary industry as the starting point of industrial upgrading. Instead, China shall try every means to improve the international competitiveness of secondary industry so as to promote the qualitative and rapid growth of Chinese economy by tapping into its quality-oriented demographic dividend.

The Analysis on the Influence of Water Conservancy Investment on Agricultural Economic Growth: An Empirical Study Based on the Boom Period of Shandong Agriculture

This paper uses econometric methods to carry out a Granger causality test on the construction of water conservancy infrastructure construction and agricultural economic growth in the boom period(1981- 2002) of Shandong agriculture. Empirical results indicate that there exists two-way Granger causality between Shandong water conservancy infrastructure construction and Shandong agricultural economic growth.Therefore,water conservancy infrastructure construction has a significant influence on agricultural economic growth in Shandong.

Empirical Analysis of Economic Growth in Sichuan Province

For a long time, the factors influencing a regional economic growth are mainly workforce, capital and scientific and technological progress. But with the further promotion of China＇s reform and opening-up and intensification of the further improvement degree, the main factors influencing a regional economic growth constantly change. This paper utilizes the relevant data of Sichuan to set up the econometric model and quantitatively studies the factors influencing economic growth of Sichuan. Through comparing the greatness that each factor influences the economic growth of Sichuan, the paper takes system changes as leading factor to influence the economic growth during 1984-2003 of Sichuan. At the same time, the upgrading of industrial structure will be a core of economic growth in the future, and the scientific and technological progress is the potential force of economic growth.