An Empirical Analysis Of The Impact Of Institutional Change On China’s Economic Growth

In this paper, through the analysis of institutional change to economic growth, the institutional factors are added to the economic growth model of Douglas’ s economic growth, and it is concluded that institutional change will be beneficial to economic growth.First of all, the definition of institutional factors, and the system is limited to economic system; secondly, in accordance with the time sequence of economic system changes, the process of China’s economic system changes are divided into four stages. Also with nonnationalization rate, economic freedom and opening degree to explain the system, and through the three sub indexes to explain the role of institution to economic growth; again,based on the data since the reform and opening up 30 years, the simplified system for non nationalization rate, the degree of marketization and opening degree of the three variables,to quantify the system factors, and empirical analysis. The empirical result shows that institutional change influence on China’s economic growth. Finally, from the three aspects of the property rights system, market system, open system policy recommendations.The policy of reform and opening to the outside world so far, our country from planned economy to socialist market economy, rapid economic development is inseparable from the change and innovation of system, system changes on China’s economic growth has a strong explanatory power, which has certain practical significance. The victory of the Third Plenary Session of the eighteen Central Committee of the Communist Party of China has laid a solid foundation for China’s new round of reform, and institutional change has a certain guiding significance for China’s new round of reform.