CHINA’S INDUSTRIAL STRUCTURE UPGRADE IN THE “NEW NORMAL”: EMPIRICAL TEST AND DETERMINANTS

This paper measures the index of industrial structure upgrade nationally, regionally and provincially by employing angle cosine method. The results show that China’s industrial structure has upgraded and the East is higher than the Northeast and the Midwest. The paper presents an empirical study to...

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Bibliographic Details
Published in:Singapore economic review 2018-09, Vol.63 (4), p.1037-1058
Main Authors: XIAO, WEN, PAN, JIA-DONG, LIU, LI-YUN
Format: Article
Language:English
Subjects:
Consumption
Development strategies
Dummy
Economic models
Economic theory
Industrial structure
Innovations
Labor supply
Regions
Supply & demand
Supply-side economics
Technology
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Summary:This paper measures the index of industrial structure upgrade nationally, regionally and provincially by employing angle cosine method. The results show that China’s industrial structure has upgraded and the East is higher than the Northeast and the Midwest. The paper presents an empirical study to examine the effect of variables including demand-side factors, New Normal as a dummy variable and supply-side factors on industrial structure upgrading. It implies that New Normal is not significant, while consumption, investment, technology improvement and labor supply significantly facilitate the upgrade. It highlights policy suggestions designed to adopt innovation-driven strategy and regional economy development strategy.
ISSN:0217-5908
1793-6837
DOI:10.1142/S021759081742005X