Research On The Relationship Between Logistic Industry And Economic Growth Of Zhejiang Province

With the rapid development of economic globalization and science and technology, in particular, the information technology, modern logistics is playing an increasingly significant role in economic development, considered to be the "accelerator". And its development level is regarded as an important indicator of the comprehensive economic strength of a country or region. This paper, based on the review of relevant literatures, studies the interactive relations between the modern logistics industry and the economic growth in Zhejiang Province from the following three perspectives:the interactive relations between economic growth and modern logistics supply capability, logistics demand as well as logistics development, respectively.This paper, on the basis of an introduction to the relevant theories covering the relations between modern logistics and economic growth while referring to previous studies, first conducts a qualitative judgment on such links according the actual development of modern logistics and economic growth in Zhejiang, then selects, from the statistics of the province from 1978 to 2008, the four quotas of length of transport routes, rotation volume of freight transport, logistics output value and GDP, and carries out stationarity tests, cointegration tests, Granger causality test as well as regression analysis, aiming to find out the work mechanism of mutual promotion and common development between modern logistics and economic growth.The main conclusions from the study are as follows:1) in terms of the development level of modern logistics supply capability, there is a mutual-promotion-and-development relationship. However, in case of Zhejiang, due to the low level of modern logistics, the promoting function has not been fully displayed; 2) in terms of modern logistics demand, rapid economic growth will necessarily create huge demand for modern logistics, which is reinforced by the actual development in the modern logistics and economy of Zhejiang; 3) the relationship between modern logistics and economic growth is not simply one-way promotional, but mutually coordinated and promoting. From the quantitative analysis of relations between modern logistics achievements and economic growth in Zhejiang, there exists a causal link between the two variables which present good momentum for coordinated development.