The Three Components’ Stimulating Effect On The Economic Growth Of Fujian Province

During the "Eleventh Five-Year" period, the economic strength of Fujian significantly enhanced, and people’s living standard improved continuously, industrial restructuring accelerated. Overall, the economy of Fujian showed a good momentum of development, but the structure of GDP still loses balance. So,"Twelve Five" is the time that Fujian should accelerate the transformation of economic development mode, promote the stride across development, and also the time to promote the construction of Economic Zone on the west side of the Straits, built well-off society three years ahead. As an export province, the economy of Fujian is highly vulnerable to the changes in the economic situation at home and abroad. In the face of increasingly fierce international competition, if Fujian still pays more attention to the economic growth based on city infrastructure construction, real estate and other non productive investment, it will face a more severe situation, challenge, or even crisis. To this end, Fujian’s economic development must be under the guidance of the scientific concept of development; the production-led growth mode must shift to consumption-led growth mode, and the investment and external demand growth mode shift to domestic demand-oriented.Consumption, investment and export are the three components of GDP which promote economic growth. They can decide the situation of the economy of Fujian. Generally speaking, in the developed areas, the three demands promote economic growth jointly; in less developed areas, the consumption demand and investment demand are more obvious. Therefore, whether the proportion of the three components in the process of economic growth is coordination, is directly related to the quality and speed of economic growth. At present, the studies of economic growth focus on the aspect of supply, which mainly discuss the factors, technology and system. The research on the supply is extremely important when the supply is less than the demand in the economy. But as the economic situation changes, the research on the aspect of demand is extremely necessary when the demand is less than the supply. Firstly, by using the relevant data of the "statistical yearbook of Fujian province -2013", this paper analyze the contribution rate, pulling rate, the proportion of consumption and accumulation as well as the consumption structure to the economic growth to understand the relationship between three components and economic growth. Secondly, starting from the demand, this paper will analyze the inducing effect and stimulating effect of the final demand of Fujian by using 2007 and 2010 input-output data. This helps us find the existing problems in the economic growth of Fujian Province, understand the main driving force of each department, and put forward the corresponding policy suggestions on the future development of Fujian’s economic.