Analysis Of The Economic Growth Level Of The Construction Industry In Jiangsu

The construction industry is a pillar industry of the national economy.The proportion of Jiangsu's construction industry added value to GDP has been maintained at around 6%for many years.Therefore,the construction industry is Jiangsu's prosperous industry and dominant industry.In the new economic norm in the background,Jiangsu construction industry continues to adjust the industrial structure,deepening the construction of administrative service system reform,construction industry plays in economic growth in Jiangsu Province,promote labor employment,livelihood services in the role of the national Jiangsu "13th Five-Year" period of economic stable and healthy development and the realization of power construction and make new contributions.Based on the theory of economic growth on the basis of the current assets,liquid assets,compensation,power consumption,the added value of the construction sector,the construction industry output value and other economic indicators to make a comparative analysis of the construction industry in Jiangsu,found that the speed between assets and current assets ratio has been maintained at 70%-80%in 2008,Jiangsu building workers wages higher than the national average level of construction,but lower than the average level of the whole industry in Jiangsu,Jiangsu construction industry and electricity consumption than the national construction industry has a downward trend,a multivariate statistical model,the coefficient of current assets,compensation,power consumption of the construction industry output value of the regression equation is significant.Using VAR model,we find that there is a cointegration relationship between the floating assets,the electricity consumption and the wage level of Jiangsu construction industry and the total output value and the added value of Jiangsu construction industry,which indicates that they maintain a stable relationship for a long time.In Grainger causality test,it is found that the total output value of construction industry in Jiangsu and wage level are Grainger causality,indicating that they have mutual promotion relationship.The variance decomposition analysis found that 52.98%of the total output value of current assets to Jiangsu construction industry the highest contribution,but only for the construction industry to increase the maximum contribution of only 1.65%,while the power consumption of the highest contribution to the total output value of only 6.66%,to increase the value of the contribution of up to 18.55%,and has been rising the trend of Jiangsu construction industry,there are a lot of inventory and in the construction project completion rate is not high.It is found that the economic growth of the construction industry in Jiangsu is still in the extensive mode of economic growth,and the volume is large,but the level of development is not high.The construction industry in Jiangsu should take the supply side reform as the breakthrough point,push forward the deepening reform of the construction industry,fully stimulate the production efficiency of all elements,enhance the vitality of construction enterprises,and make Jiangsu's construction industry go on a fast,healthy and green development track.