A Study On The Statistical Relationship Between Productive Service Industry And Economic Growth

Under the general trend of the global economy from "industrial economy" to "service economy",As the largest developing country,China is promoting the transformation of economic growth patterns actively.The productive service industry that services for producers is a new economic growth mode and booster of modern economic growth,which plays an important role on promoting the transformation of industrial structure and economic growth.Therefore,the study of relationship between producer services and economic growth has important theoretical and practical significance for the development of producer services in China.This paper analyzes the relationship between producer services and economic growth on the basis of the connotation and classification of producer services in the theoretical and empirical aspects.On the theoretical level,the paper explores the mechanism of productive service industry promotes economic growth based on the theory of specialization of labor,Roundabout production,industrial value chain and Cumulative Causation Model.It makes a comprehensive description on the mechanism of the relationship between producer services and economic growth.Productive service industry promotes economic growth mainly by deepening human capital and capital formation to increase the input elements of economic growth,promoting technological change to impulse economic growth mode and optimize the industrial structure,enhancing the degree of opening up to the outside world to increase the market competitiveness.In the empirical aspect,the paper establishes three models to investigate the relationship between producer services and economic growth based on the provincial panel data from 2004 to 2014.First,cointegration model is established by taking economic growth as explained variable and productive service industry as explaining variable to discuss the cointegration relationship between producer services and economic growth,We find that there is a long-term stable equilibrium relationship between the two and each for Grainger causes.Second,the linear panel model is established by considering the promotion mechanism of the producer services and economic growth to analyze their linear relationship.It is found that the productive service industry,human capital,capital formation,opening-up and technological innovation have a significant effect on promoting economic growth.Third,considering the influence of the size of government,we extend the linear model in the above text to the panel threshold regression model to discuss the relationship between the producer services and economic growth.The model takes economic growth as explained variable,productive service industry as key explanatory variable,size of government as threshold variable,human capital,capital formation,opening-up and technological innovation as control variables.It is found that the size of government has a restraining effect on the economic growth.Under the influence of the scale of government,a threshold effect is do existed between productive service industry and economic growth.The development of producer services have a great effect on promoting economic growth with low size of government,and the effect will be reduced with the gradual expansion of government scale.