| The paper collected and sorted out 14 years of basic data of the world top 500 from 1995 to 2008, contrasted the distribution industry of "Advanced Economies" and the "BRICs" in the Fortune 500 with Statistical and econometric methods, described the impact on economic growth, and then illustrated changes in economic structure and the important influence on economic growth.First, through making statistics of the basic features of the two economies in the world top 500, the paper introduced the overall changes of Fortune 500 in 1995 to 2008, found "Advanced Economies" with a powerful economic had absolute advantages in the amount of Fortune 500, while "BRICs" had upward trend in the number of enterprises, and the growth rate was accelerating. Compared the distribution of industry in the Fortune 500 companies, it was found that advantages of the traditional industries was still obvious, emerging industry's position began to gradually rise. "Advanced Economies" still dominated in the industry, but from a trend point of view, the proportion of the industry in the two economies changed on the opposite. The proportion of "Developed Economies," was gradually reduced, and the "BRICs" had gradually increased the proportion. The "BRICs" would gradually appear more and more on the international stage.Secondly, from the angle of assets, operating income, percentage of operating income and average profit margin, the paper made comparative analysis of the business situation in all sectors of enterprises in the Fortune 500 of the two economies. Due to the cumulative effect in a long period, the industry revenue of the "Developed economies" is far ahead of the "BRICs". The "BRICs" economies are emerging ones, the economy start relatively late, operating income in each industry is relatively low. From the development trend of view, the gap between the two economies is narrowing. From the perspective of profitability, "BRICs" has shown strong vitality, even average profit margin of many industry are far beyond that of the traditional "Developed Economies". The "BRICs" has considerable development prospects. Of course, in the emerging industries, the disadvantages of "BRICs" are obvious, It becomes one direction of the "BRICs" to catch up.The following is the empirical part of the paper. Through a series of statistical and econometric models, the paper made analysis of effect on economic growth caused by revenue of industrial and service. First, using measure model of industry structure made evaluation of the industry distribution of fortune 500.Then estimated elasticity sequence of gross domestic product caused by revenue of industry and service with Time-Varying Parameter Model and Kalman filter. There is long-term stable relationship between the industry, service revenues and the gross domestic product of the "Developed Economies". The development of industrial enterprises of "BRICs" in the fortune 500 has certain contribution to the economic development, but there has not a long-term equilibrium to promote the economic development as service industry has developed late and is still small. Further, mechanisms that how industry and services effect economic growth are investigated with the use of impulse response functions and variance decomposition.Finally, research conclusions are made and recommendations are considered at last. The growth of "BRICs" should follow the tendency of global economy development and learn to the "Developed Economies".To join in the fortune 500 with the development of industry isn't the expand tendency. The "BRICs" should alter from the bias towards development to develop services faster with a good developing of industry. To develop the emerging industry which has lower consumption, more extra value and high-tech is the mission of the first importance. |
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