Development, Industry Structure and Economic Growth
Abstract Based on panel data of China’s 31 provinces (cities
and autonomous regions) from 2001 to 2012, this paper examines the influence of
financial development and industry structure on China results show that the
effect of financial development and industry structure on economic growth is significantly
positive, namely improving financial development level is good for economic
growth, and the role of secondary industry in promoting economic growth is more
apparent. Government expenditures, fixed-asset
investment, infrastructure human capital and urbanization have a positive
effect on economic growth. Through further analysis this paper also finds that
although financial development and industry structure have a positive effect on
economic growth, the two positive effects on economic growth will be restricted
by each other to some extent.
paper is published in Journal of Capital
University of Economics and Business, No.5,2016.