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2013•Unpublished venueRequires access

Statistical Test on Relationship between China's Service Industry Development and Economic Growth

Hui Zhang, Jianxiang Wang

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Abstract

This paper carried out research on relationship between China's service industry development and economic growth on basis of Stability Test, Unit Root Test, Co integration Test, Error Correction Model, Granger Causality Test. It shows that the mutual influence between GDP growth and value added of service industry is significant, there is a long term equilibrium relationship between them, the development of China's service industry promotes the national economy growth, and China's national economy growth also contributed to the development of service industry.

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What this paper is about

This paper carried out research on relationship between China's service industry development and economic growth on basis of Stability Test, Unit Root Test, Co integration Test, Error Correction Model, Granger Causality Test. It shows that the mutual influence between GDP growth and value added of service industry is significant, there is a long term equilibrium relationship between them, the development of China's service industry promotes the national economy growth, and China's national economy growth also contributed to the development of service industry.

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Available abstract

This paper carried out research on relationship between China's service industry development and economic growth on basis of Stability Test, Unit Root Test, Co integration Test, Error Correction Model, Granger Causality Test. It shows that the mutual influence between GDP growth and value added of service industry is significant, there is a long term equilibrium relationship between them, the development of China's service industry promotes the national economy growth, and China's national economy growth also contributed to the development of service industry.

Key concepts: Granger causality, Tertiary sector of the economy, China, Unit root test, Service (business), Test (biology), Error correction model, National economy

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