An Empirical Research For The Factors Of Logistics Industry And Its Relationship With Economic Growth In China

Logistics industry is an important part in the process of China’s economic development and thus the development of the logistics industry has extremely far-reaching significance for the purpose of improving the overall national strength. With the development of China’s economy, China’s logistics industry has made great achievements in the field of logistics infrastructure, logistics industrial output and so on. With the rapid development of the logistics industry, however, it faces several problems including high social logistics cost, low operation efficiency and so many links among buyers and sellers. The reasons for this phenomenon are mainly because of China’s industrial structure, energy structure, regional development imbalances and the lacking of resource integration mechanisms. It is in this kind of context that the study of the factors which influence the development of the logistics industry and the relationship between these factors and economic growth can be of great importance and help to promote the sustainable development of the logistics industry.This article summarized and analyzed the existing literatures and we can get four important concepts. These concepts include the definition of the logistics industry, the factors which can affect the development of logistics industry, the characteristics of development path for the logistics industry, and the interaction between logistics industry and economic growth. In this article, we used the annual data from1991to2011to make an empirical research for the relationship between logistics and economic growth in China. We can get three main factors that affect logistics capabilities, namely logistics fundamentals, industrial structure and market, among18factors through principal component analysis. Comparing to logistics output indicators, these three type integrated factors are more systematic and objective in terms of logistics industry development evaluation.On this basis, we performed Granger Causality and Co-Integration Tests to investigate the long term relationship among these three factors and economic growth. And we established a stable VAR model to verify the short term revision effects. Finally, we adjusted the fuzzy "Logistics and Economic Growth" model and provided relevant policy recommendations.According to the results of empirical analysis, this article presents policy recommendations from the perspective of infrastructure, industry structure and industry linkages. Finally, we made the conclusions from the theoretical model, empirical model-based conclusions and recommendations of the tripartite. What’s more, we presented future research directions, namely the relationship between logistics industry and economic development, not just economic growth.