An Empirical Analysis of the Factors Influencing Economic Growth in Anhui:Based on the Data from 1996 to 2007
Zhu Dao-cai
Abstract
Zhu Dao-cai
Abstract
Based on the theory of economic growth,the growth model and Cobb-Douglas production function,the data from 1996 to 2007,this paper establishes the production function adapting to Anhui Province,and analyses various elements' contribution rate to the national economic growth through economic growth equation.Based on this analysis,this paper draws a conclusion that the economic growth of Anhui Province is obviously capital-driven.In recent decades,the productivity of technology factors has a downward trend.The labor into service has reached its largest scale.The mere labor input can not promote economic growth,but reduces economic growth rate.Lastly,this paper puts forward some practical measures,such as emphasizing appropriated investment,developing human capital,innovating technology and adjusting industry structure.
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Based on the theory of economic growth,the growth model and Cobb-Douglas production function,the data from 1996 to 2007,this paper establishes the production function adapting to Anhui Province,and analyses various elements' contribution rate to the national economic growth through economic growth equation.Based on this analysis,this paper draws a conclusion that the economic growth of Anhui Province is obviously capital-driven.In recent decades,the productivity of technology factors has a downward trend.The labor into service has reached its largest scale.The mere labor input can not promote economic growth,but reduces economic growth rate.Lastly,this paper puts forward some practical measures,such as emphasizing appropriated investment,developing human capital,innovating technology and adjusting industry structure.
Key concepts: Cobb–Douglas production function, Production (economics), Productivity, Production function, Economics, Investment (military), Function (biology), Human capital