Panel Co-integration Analysis of Agricultural Machinery, Fixed Assets and Agricultural Economic Growth——Taking Central Region as an Example(1995 to 2011)

In order to analyze the impact factors of the growth of the agricultural economy in the central regions,we have made a Panel Data model with the panel data of the six central provinces from 1995 to 2011,and by means of Panel unit root and cointegration analysis methods and covariance analysis test to determine model type,an empirical Analysis of the six central provinces will be made about relationship between the total of agricultural machinery,agricultural fixed assets,agricultural labor input,investment in agricultural land and agricultural GDP growth. The results show that there exists the cointegration relationship between agricultural mechanization,agricultural fixed assets,agricultural labor input,agricultural land investment and agricultural GDP growth. Agricultural fixed a seets and agricutural labor inputs have a negative impact on agricultural GDP grouth,while the agricultural mechanization and agricultural land inputs have a significant positive effect on agricultural GDP grouth. To promote the development of agricultural economy,the government needs to make agricultural support policies and increase subsidies,increase investment in fixed assets in rural areas,improve the level of agricultural mechanization and stabilize the grain acreage.