An Empirical Study On The Factors Affecting The Growth Of Zhejiang Equipment Manufacturing Industry

At present,it is the key moment of economic transformation and industrial structure upgrade,government should accelerate the transformation from "a big manufacturing country " to "a power manufacturing country ".As the core industry of manufacturing sector,equipment manufacturing industry has the wide scope,the high technical content,the wide industry relevance,and at the same time the labor-intensive nature that is a crucial role of solving the employment problem.However,there are still some problems in the process of equipment manufacturing industry,such as the sluggish market demand,the repeated construction of emerging industries,the low-end industry of high-end industry,the continuous increase of enterprise operating costs and the structural surplus.Zhejiang,as the most rapid development and complete range of Chinese major equipment manufacturing industry production base,its production scale ranks the forefront of the country and its outstanding advantages is export.Therefore,this paper evaluates the growth of Zhejiang equipment manufacturing industry,and analyzes the important factors influencing its industrial growth in combination with the development trend of economic development characteristics and location advantage in Yangtze Delta Region,then puts forward the corresponding industrial development countermeasures according to the conclusion of hypothesis discussion and empirical test.Firstly,this paper is based on the theory of economic growth and sorts out the related domestic and foreign literatures from two aspects: the research on the industry growth and the factors influencing the development of the equipment manufacturing industry,analyzes the characteristics of the industrial development of equipment manufacturing industry,summarizes the influencing factors of equipment manufacturing industry and the internal mechanism of industrial development,and lays the theoretical foundation for the establishment and analysis of Zhejiang equipment manufacturing industry growth model.Then the paper analyzes the present situation of Zhejiang equipment manufacturing industry in detail,summarizes the existing problems in the development of Zhejiang equipment manufacturing industry.Based on the Esteban expansion model for the Dynamic Shift Share Method and the Cobb-Douglas production function,this paper establishes Zhejiang equipment manufacturing industry growth model that combined with the development of the equipment manufacturing industry in the Yangtze River Delta and based on panel data,collates the relevant data to conduct empirical analysis.Through the analysis of the separation of Zhejiang equipment manufacturing industry from 2006 to 2015 and its influencing factors,this study holds that:(1)It is necessary to cultivate and develop Zhejiang General Equipment Manufacturing,Transportation Manufacturing and Electrical Machinery Manufacturing,to exert the three leading industries of high growth and high efficiency,and to make up for the existence of competitive and professional disadvantage.And we should pay attention to the high specialization in the communications equipment manufacturing industry and the development of the metal products industry and other three pillar industries,so as to promote the rapid development of Zhejiang equipment manufacturing industry development.(2)The technical level is the most important factor of influencing the development of equipment manufacturing industry in Zhejiang.The balanced development of technical capital investment,technological innovation,technical service investment and the cultivation of high-quality personnel has a positive effect on the formation of a larger industrial scale.R&D investment and the cultivation of innovation personnel have great are considerable benefits to improve the equipment manufacturing industry's degree of specialization and location competitiveness.So it indicates that all aspects of technology investment still need to maintain and improve.(3)At present,equipment manufacturing industry of Zhejiang and even the Yangtze River Delta region has been transformed from the capital-oriented direction into a technology-driven development pattern.At the same time,we should continue to pay attention to the impact of employment,market demand,government policy environment,financial environment,external environment and information technology on the development of equipment manufacturing industry.Based on the results of empirical analysis,the paper puts forward some relevant countermeasures.