Determinants Of Economic Growth: An Empirical Analysis On Zhongguancun Science Park

Zhongguancun High-tech Park, originated in the1980s, after20years of development, now has become a center of innovation in China, leading the development of high-tech industries in the capital and brand of the Chinese high-tech industries. Behind a series of impressive economic growth performance, economic growth in the Zhongguancun High-tech Park was questioned. The contribution of factors of production such as capital, labor and technological progress in the Zhongguancun High-tech Park of economic growth much, what is the Park’s economic growth determining factor is whether the Zhongguancun High-tech Park has a key to the essence of the high-tech park, but also the significance of this study.This article has been economic growth theory and high-tech park development theory, based on the Zhongguancun High-tech Park,1993-2010trend of economic data were analyzed, and use the C-D production function model, using Eviews software on the capital element of the park, the labor factor, the level of contribution to economic growth, technological progress elements relevant empirical analysis. The results showed that, along with the "second pioneering" the implementation of the strategic planning of the National Hi-Tech Park, Zhongguancun High-tech Park, the contribution of technological progress to economic growth levels continue to grow, high-tech elements of the park into a higher output efficiency, park economic growth mode from traditional capital and labor input growth, accelerate the transition to the economic growth model of the determinants of technological progress as the high-tech park. On this basis,there are some relevant policy recommendations for Zhongguancun High-tech Park.