Empirical Analysis Of Laos' Opening-up Promoting Economic Growth And Drawing From China's Experience

Since the Lao government implemented reform and opening up to the outside world in 1986,the Lao government has formulated a series of economic development plans and goals.To develop the market economy,create a reasonable industrial structure and ensure that economic development conforms to the social and cultural development of Laos;Strategic planning as the direction of economic development,the government since Laos of opening to the outside world,the economy has experienced decades of high-speed growth,foreign trade is continuously expanding,especially in Laos has joined the world trade organization,the asean economic community,since opening to the outside world to promote the Lao economic growth,thus opening to the outside world and Laos become one of the important hot topic in the field of economic growth.The relationship between the two is complex and changeable.Then,what role does opening up play in Laos' economic growth?In this paper,we try our best to integrate theory with practice,an d study and analyze the relationship between Laos' opening up and its economic development.Firstly,it elaborates the research background and meaning of the subject,then establishes its own research ideas and methods,reviews the relevant research results,and finally points out its innovations;secondly,it analyses the mechanism of opening to promote economic growth,how foreign trade and foreign capital promote economic growth;thirdly,it analyses Laos' economic opening and economy.Statistical analysis of growth introduced the current situation of Laos' foreign trade growth and trade dependence,analyzed the current situation of Laos' foreign investment utilization growth and foreign investment dependence,the process of Laos' rapid economic growth and the transformation of its economic structure,and the main problems Laos faced in the process of opening up and economic growth.Fourthly,the empirical evidence of Laos' opening up to the outside world to promote economic growth,including Variable selection,model description,model establishment,result analysis,etc.Fifth,the experience of China's opening up and the significance of using foreign capital for reference to Laos,and put forward policy recommendations for Laos' s economic growth.Finally,co mbined with the results of empirical analysis,the paper puts forward some targeted policy recommendations for Laos' s opening up.The results of this paper show that,regardless of the long-term or short-term empirical analysis,foreign trade and foreign direct investment are positively correlated with Laos' Laos economic growth,indicating that trade and foreign direct investment have driven Laos' economic growth.The results of the analysis prove that Laos' opening to the outside world is in full compliance with the requirements of Laos' social and economic development.It can not only export foreign exchange,but also attract foreign direct investment,advanced technology and equipment,modern management mode,etc.,and also Laos resource allocation and in dustrialization upgrade.