The Research On Power Growth And Change Of Industrial Structure In Hunan

In recent years, rapid development of power industry, promoted the rapid development of economy. With the growth of power, industrial structure is also changed accordingly. Meanwhile the shortage of power supply has also affected the economic aspects, the power supply has become a social and economic development were the focus of attention.The Granger-Causality (GC) and the Error Correction Model (ECM) techniques are applied to analyze the relationship between electric power and the industrial structure.The single factor model is selected first and the systematic analysis is made in the total quantity, in separate industries and departments.Then the multi-factors model is adopted by introducing the multivariable,such as,the electric power investment,non-electric power investment,electric consumption and human power capital to make further analysis,which obtained direction,degree,the short and the long term relation between the electric power and the industrial structure.Empirical results show that the power and the economy in Hunan Province Granger causality from the installed capacity and electricity consumption to GDP, one-way causality, that is, the growth of installed capacity and electricity will push GDP growth in installed capacity and electricity shortage will seriously restrict the growth of GDP; from the long-run equilibrium view, GDP and electricity consumption and the capacity of a positive correlation. Primary industry is the second and tertiary industries to use electricity from the one-way causal relationship, the third industrial power products with its corresponding two-way causal relationship between the values added. Hunan's economy, investment, human capital and consumption throughout society there is a long-term equilibrium relationship between. Thus support the power and endogenous economic growth, and both are interrelated hypotheses. Hunan Electric Power also obtained the direction of economic causation, influence the size of the short-term and long-term relationship, power shortages and energy resource scarcity conditions, good power supply and power grid planning and construction, protection and utilization of energy efficiency, good adjustment of industrial structure to promote the social economy in Hunan province to provide long-term sustainable development of scientific theory.An advanced basis for the research on the relationship between electric power industry and industrial structure in future was provided through the study of this paper,which had better real value.