An Empirical Study On The Development Of Liaoning Manufacturing Industry Based On Cobb-Douglas Production Function

In 2003,the national revitalization of the northeast old industrial base strategy began to deploy,Liaoning Province manufacturing industry achieved high-speed continuous development.However,in recent years,due to the long-term use of extensive economic growth,and with overcapacity,rising energy prices,demographic dividends disappear,technological innovation capacity decline and a large number of foreign high-tech products to seize the Chinese market and so on,Liaoning Manufacturing and the entire industrial system are faced with unprecedented development problem.From 2011 to 2015,manufacturing output began to show a downward trend.It`s important to hinder the development of Liaoning manufacturing industry factors,and to find new economic development road.Based on the Cobb-Douglas production function with energy,the model is applied to the output of Liaoning manufacturing and its input factors in Liaoning Province from 2001 to 2014.The results show that the contribution of material capital investment to manufacturing output is the most prominent.It can be considered that the rapid development of manufacturing in Liaoning Province is mainly dependent on material capital investment.Driven by the output of the role of human capital generated by the output capacity relative to the material capital is smaller,energy consumption driven by the weakest output capacity,while the manufacturing sector in Liaoning Province,a lot of demand for energy,On the surface,the energy efficiency of manufacturing in Liaoning Province is low and deeper,which indicates that the energy consumption structure in Liaoning Province is unreasonable.It is believed that the manufacturing industry in Liaoning Province belongs to the extensive industry of energy,that is,the development of manufacturing industry in Liaoning shows the characteristics of "high energy consumption".Therefore,we should attach importance to the rational allocation of production inputs,reduce the level of energy consumption in the manufacturing sector,take a new green industrial road,and save energy and enhance the sustainable development of Liaoning manufacturing capacity.