| The relationship between trade openness and economic growth is the important areas of research in the field of international trade and economic growth.First of all,this paper reviews the domestic and foreign scholars on the measure of trade openness and the related literature of trade openness and economic growth. That trade openness should include the degree of merchandise and services trade openness in two parts.Secondly, trade openness and economic growth trends were descriptive analysis, there may exist in close contact.Then we analysis the relationship of merchandise and services trade openness and economic growth by using vector auto regression.From the estimated long-run equilibrium relations, merchandise and services trade openness are significantly positive impact on long-term output per capita.Increased trade openness is conducive to long-term economic growth.But from the view of influence coefficient, the merchandise trade openness is less than the services trade openness on long-term impact of per capita output.Granger causality analysis shows that there is only one-way Granger causality between merchandise trade openness and per capita output, While there are two-way Granger causality between service trade openness and per capita output.Impulse response function shows that merchandise trade openness play a certain shock effect on the volatility of economic growth. Error correction model shows that the short term, service trade openness and economic growth is correlated with long-term trend line, but the impact strength is less than the long-term trends;there is some reverse inhibition on economic growth of merchandise trade openness in the short term, and it is opposite in the long-term trend.This paper further analyzes the relationship between the service trade openness of different elements-intensity and economic growth.Trade openness of the labor-intensive services have an insignificant impact on economic growth.Both the trade openness of capital-intensive services and technology (knowledge) intensive services have a positive impact on economic growth,but the impact of trade openness of technology (knowledge) intensive services is more greater.Meanwhile, the article also compares the different types of trade openness on the impact of differences in national economic growth by use of panel data model. Openness of trade in goods and services did not produce significant effects on the economic growth of large developing country.For small developing countries,the goods trade openness have a significant positive impact on economic growth rate, but the service trade openness is not significant.For the developed countries, openness of trade in goods and services trade openness have produced a significant positive effect on economic growth. Finally,It puts forward policy recommendations for Chinas foreign trade strategy and development of economic. |
