Empirical Study Of The Construction Industry And Economic Growth Relationship In Anhui

Construction industry, serving as a pillar industry of the national economy in Anhui province, promotes the growth of the national economy through the basic building activities to provide firm material foundation and technical support for various departments of national economic and prosperity development of the industry. Construction industry provides material basis for the development of the national economy, at the same time, it provides investment protection for the increase in construction output. So there are stimulate growth cycle between construction industry and national economic growth. According to early 2013,<Guiding Opinions on Promoting the construction industry to accelerate the development of the transformation and upgrading>, introduced by Government, expectes the total construction output in Anhui province will reach more than 1 trillion yuan in 2017. It will try its best to make Anhui province enter the ranks of the province’s construction industry. But the current level of development of the construction industry in Anhui Province is still relatively backward with respect to construction province. Jiangsu province, as one of the construction industry, its construction output has reached 700 billion yuan in the early 2007. So Anhui Province should vigorously develop the construction industry, it should not only expand the size of the construction industry, but also identify the factors affecting the development of the construction industry according to the environment in the construction industry and determine the impact of these factors in order to make policy recommendations.This paper focuses on the relationship between the construction industry and economic growth in Anhui conducted empirical research.Firstly, this paper introduces the background and significance of the research, research and research methods at home and abroad about the construction of this article and the relationship between economic growth and elaborated definition of construction studied in this paper, the modern theory of economic growth and industrial economic theory the pillar industries and industries related theory.Secondly, the status quo of the construction industry and economic development in Anhui Province were analyzed, on the one hand, from Anhui Province, construction output, labor productivity in the construction industry, construction industry structure (including structural building products, construction business structure and qualifications structure),16 around the city, and other aspects of construction output in the construction industry are analyzed in Anhui Province level of development, besides the construction of Anhui Province and neighboring provinces (Jiangsu, Jiangxi, Hubei, Henan, Shanghai and Zhejiang province) were compared. On the other hand, aspects from the gross domestic product (GDP) and its components, fixed asset investment analyzes the current situation of the national economy in Anhui Province and its neighboring provinces to compare.Thirdly, the construction industry and economic growth in Anhui relationship qualitative analysis, the construction industry has a role in promoting the national economy, reflected in the contribution of the construction industry to GDP, employment and taxation; GDP growth in the national economy, mainly through fixed asset investment, real estate and construction industry structure changes to produce leading role.Fourthly, using a cointegration test for the construction industry and economic growth in Anhui empirical research. Since the actual analysis, the majority of non-stationary time series, it uses a cointegration test econometric model empirical research. Firstly, the test method used in the empirical analysis, such as the unit root test, co-integration test and Granger causality test; Secondly, choose a variable value added of construction, GDP, construction and installation investment, real estate added value and proportion of tertiary industry practitioners as empirical analysis, and data processing and deflating to the logarithm; Finally, using the method of cointegration among the variables tested.Finally, summarizes the main conclusions drawn from the analysis, and policy recommendations for the conclusion.Studies have shown that:Firstly, the development of the current construction industry in Anhui province is large relatively, construction output increased rapidly, but its growth has slowed, construction of the building product structure is irrational, construction companies and qualification structure of the ownership structure where there are unreasonable regional development in Anhui Province construction is not balanced, and the province is relatively backward with respect to the construction industry development neighboring provinces;Secondly, GDP growth, fixed asset investment, real estate and industrial structure changes have leading roles on the development of the construction industry, there is a long-term stable cointegration relationship between GDP, fixed asset investment and real estate and construction, but the third does not exist between industrial structure and construction cointegration, it means changes in the industrial structure is not able to bring the long-term impact on the construction industry. And when GDP growth, fixed asset investment and real estate for each additional one unit, the construction industry’s economic growth and 0.9015 respectively 1.652,0.4087 units, of which, GDP growth in the leading role of the strongest in the construction industry, followed by the real estate industry fixed asset investment leading role in the construction of a minimum;Thirdly, GDP growth, fixed asset investment and construction industry are mutual Granger causality, mutual promotion between them and mutual development. There are one-way Granger causality between the real estate and construction industry, that affect the results of the real estate construction industry is significant, but the impact on the real estate construction industry is not obvious.