Analysis Of The Rate Of Contribution To The Economic Growth Factors Of Shandong Province Since The Reform And Opening Up

Economic growth is related to some important issues such as residents’ welfare, social employment and so on, it is the key point of research around the world. Different economists have put forward their views on the issue of economic growth. Since the 1990s, the analysis of the source of economic growth become a research focus in economics.Shandong province is an important province in eastern China, the economic scale and the speed of economic growth are among the top, but also it cannot be called a "economic strong province", In quest of the power of Shandong province economy in 36 years economic growth after the reform and open policy, promote the smooth transition of Shandong economy, in this paper, the factors of contribution rate of economic growth in Shandong province are analyzed. This paper based on the collected data processing, the use of statistical software Eviews, build Cobb-Douglas production function, through the way of production function parameters to determine the output elasticity of capital and labor output elasticity. We found that after the reform and opening-up policy, the Shandong province economy as a whole shows the tendency of decreasing return to scale, and since 1990, Shandong increasing returns to scale. This paper mainly analyses the factors of contribution rate of economic growth since 1990. Through analysis we can get, in Shandong province from 1990 to 2013, the economic increasing return to scale, among them, the contribution rate of the biggest factors is capital, followed by total factor contribution rate. And the contribution rate of labor factor is the smallest.According to the views of development economics, the stability of the long-term economic growth should be the sum of population growth and technological progress rate are the same, and the contribution rate of each factor to economic growth in Shandong province values indicating the previous economic growth in Shandong province belong to unbalance growth. Through analysis we conclude, such result is mainly due to the following problems exist in the process of economic growth in Shandong province in the past:firstly, Shandong province is driven by investment economy; Secondly, the Shandong province labor with inadequate; Thirdly, economic growth and industrial structure is not reasonable.