Research On The Contributions Of Economic Growth In Northeast China

Compared with other regions in China,the economic growth in the northeast region has obvious stage characteristics.Before the founding of the People's Republic of China,the economic growth status of the northeast region was at the forefront of the country and this state continued for a long time after the founding of the People's Republic of China.Afterwards,as the reform and opening up proceeded,the economic growth in the Northeast suffered severe challenges.In order to revitalize the northeastern economy,the country implemented the first round of “rejuvenating the northeast old industrial base strategy” since 2003,and the economic growth in the Northeast Difficulties have been effectively alleviated.However,after a full decade,the situation of economic growth in the northeast region suddenly fell into a dilemma.The economic problems in the Northeast have once again become the focus of attention.In order to explore the contribution of major factors supporting the economic growth in Northeast China in the past decade or more,in order to provide theoretical and empirical foundations for the economic reforms in the Northeast,this paper will study Heilongjiang,Jilin and Liaoning as a whole.The study is aimed at the three provinces in the Northeast as a whole,without emphasizing their unique characteristics of economic growth.Firstly,this paper introduces the background and significance of the research,and then arranged the related literatures of theories about economic growth,and then introduces the theory about regional economic growth.According to the statistical yearbook of the three provinces in Northeast and compared with the national statistical yearbook to find out the economic and social status of three provinces in Northeast and this paper show the present situation intuitively in economic and social aspects of the Northeast during 2001 to 2015.Then,this paper,by using a neoclassical growth model of human capital additional and making an empirical analysis,want to find out the sources and its contributions to economic growth of the Northeast and the whole country from 2001 to 2015,and the results show that three factors: labor,physical capital and human capital explained more than eighty percent of the contributions to economic growth of the Northeastern.Other factors,such as system and technology and so on,explained the rest of contributions to economic growth of the Northeastern.The contribution rate of capital was about 58.4%,and the contribution rate of labor was about 8.3%,and the contribution rate of human capital was about 16.5%.We can find that the economic growth in the region of Northeast China was mainly promoted by investment,and from the result of the regression analysis,the output elasticity of the capital in Northeast China was 0.27,and the output elasticity of the labor was 0.62,the output elasticity of the industrial structure was-1.49,and the output elasticity of human capital was 0.11.Compared with the average level in the same period,the material capital contribution rate and labor contribution rate in the Northeast are higher than the national average,but the contribution rate of human capital was lower than the national average.In terms of output elasticity,the northeastern region's capital output elasticity,human capital output elasticity,and industrial structural adjustment elasticity were all higher than the national average,but the output elasticity of the labor force was less than the national average.Such empirical results reflect the three main characteristics of the economic growth of the northeast region from 2001 to 2015: First,the economic growth in the northeast region mainly depends on investment,although the increase in labor force has also played a significant role,but mostly,the labor was of low quality.Second,the industrial structure of the Northeast needs to be adjusted urgently.The adjustment of its industrial structure will play a significant role in promoting economic growth.Third,although there is still a large potential for investment in the Northeast region,however,it should be inclined to high-quality investment.Finally,this paper puts forward some specific suggestions to the economic reform in Northeast China according to the research.