Analysis Of Zhenjiang's Economic Growth Factors

Analysis of economic growth factors is an important problem of economic development for a state or region.The economy of Zhenjiang has obtained huge development,the economic output as well as the average per person output is being enhanced unceasingly,the overall economic strength has markedly increased,people's living standards has greatly improved and all aspects of socio-economic have also made great progress since 1990s.What impetus Zhenjiang's economic growth unceasingly? What contribution do these factors do in the economic growth? How to realize the harmonious development of economy and society of Zhenjiang? The research on the economic growth factors of Zhenjiang has very important and realistic meaning.Directed by the theories of economic growth and using the methods of qualitative analysis and quantitative analysis,this paper researched on the economic growth factors of Zhenjiang on the basis of knowledge of Economics,Statistics and Econometric etc.Firstly,the paper analyzed and described the economic development of Zhenjiang.Secondly,this paper established expand Cobb-Douglas production by putting R&D input,Human capital,industrial structure variation and index of opening up in it based on the theory of economic growth and the actual situation of Zhenjiang.Using the principal components regression analyzed the economic growth factors of Zhenjiang,discussed the effect of the factors to economic growth and measured the contribution of each factor input to economic growth based on the date of Zhenjiang from 1995 to 2006.The paper also compared economic growth in Zhenjiang,with,Nanjing and Suzhou in order to recognize the economic growth characteristics of Zhenjiang more clearly.Finally,we made the suggestions to promote economic growth in the city of Zhenjiang combined with its actual situation.Studies have shown that the effect of Labor input to economic growth was weak,the contribution of opening-up to economic growth was relatively low,didn't play its role,capital input,R&D input,Human capital,industrial structure variation played significant roles in economic growth in the six main economic factors and economic growth in Zhenjiang was impulsed by these four factors.Achieve Economic growth of Zhenjiang mainly through the high growth of factors input.The exertive effects of factors are not high.So the following measures should be taken to promote economic growth in Zhenjiang:broadening the scale of investment and fund recourses,improving investment structure,raising investment efficiency;attaching important to scientific and technological progress,speeding up scientific and technological innovation; establishing the concept of human resources,lying emphasis on human capital accumulation,improving the quality of labors;accelerating industrial structure variation and the optimization and upgrading of industrial structure;developing open economy,accelerating the pace of opening to the outside world;developing circular economy.