The Influencing Factors Of China’s Economic Growth: Empirical Study Based On Extreme Bounds Analysis Model

This article is in accordance with the theory of endogenous economicgrowth,using China’s1978-2010data and selecting38economic variables,applying the EBA model estimation and testing methods,to empirically study therobust factors in China’s economic growth and verify the existence of long-runequilibrium relationship between the robust factors and economic growth. Theempirical results show that18explanatory variables are to be significantly androbustly partially correlated with economic growth and another20variables to bemarginally related, while four variables are having long-run equilibriumrelationship with economic growth. The robust factors: the average wage ofemployed persons in urban areas,total fixed asset investment,net exports,foreigndirect investment,national revenue,national expenditure,urban per capita disposableincome,rural per capita net income,gross output value of agriculture,industrialoutput value, industrial added value, output value of construction, added value ofconstruction, density of road network, domestic tourism spending per capita, thebalance of urban and rural savings deposits,high school enrollment rate，total healthexpenditure per capita. The long term equilibrium effect factors: total fixed assetinvestment, urban per capita disposable income, rural per capita net income, grossoutput value of agriculture. Based on the empirical conclusion, this paper putsforward to realize national economy development policy recommendations.