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

Wen Xiao (), Jia-Dong Pan () and Li-Yun Liu
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Wen Xiao: College of Economics, Zhejiang University, Hangzhou, P. R. China
Jia-Dong Pan: #x2020;Zhejiang Institute of Administration, No. 1000, West Wenyi Road, Hangzhou, P. R. China
Li-Yun Liu: #x2021;Department of Management, Zhejiang Chinese Medical University, Hangzhou, P. R. China

The Singapore Economic Review (SER), 2018, vol. 63, issue 04, 1037-1058

Abstract: 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.

Keywords: New normal; industrial structure; index of upgrade; demand-side factors; supply-side factors (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (3)

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DOI: 10.1142/S021759081742005X

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