Analysis Of The Contribution Of Wholesale And Retail Trade To Economic Growth

In recent years,the proportion of the third industry in the national economy continues to increase,the contribution to economic growth is also growing,but compared with foreign developed countries,there is still a large gap.How to develop the service industry,to maximize the role of service industry to promote economic growth,which is an urgent problem to be solved in our country at the crucial stage of economic structure transformation..As an important part of the tertiary industry,wholesale and retail industry connected with production and consumption,is the middle part of the commodity circulation industry chain,bear the important task of market mechanism in the allocation of resources,its development is conducive to the growth of the third industry,expanding domestic demand,optimizing the economic structure,changing the mode of economic growth.Therefore,the development of wholesale and retail industry has become one of the effective ways to solve the problem in current China.It is of practical significance to study the contribution of wholesale and retail industry to the economic growth and to explore the policy which promote the development of wholesale and retail trade in China.On the basis of the research achievements about the contribution of wholesale and retail trade to economic growth at home and abroad,starting from the related concepts and theories,based on the data from 1981 to 2013 of china,this paper use cointegration test,Granger causality test,pulse response function,variance decomposition and other econometric methods to study the relation between the development of wholesale and retail industry and the growth of economy,this paper also introduce Feder model to study the indirect contribution of wholesale and retail trade to economic growth.Research shows that:there is a long-term stable equilibrium relationship between China’s economy and the wholesale and retail,and the relation between wholesale and retail industry and economic growth is positive.Between the two exists bidirectional causality,that is,the development of wholesale and retail industry is the Granger cause of economic growth in our country,in turn economic growth is the Granger cause of wholesale and retail industry;indirect contribution of wholesale and retail trade to economic growth is greater than its direct contribution.As a comparison,this paper studies the contribution of the wholesale and retail industry to economic growth,found in both countries there is a long-term equilibrium relationship between wholesale and retail industry and economic growth.,the indirect contribution of economic growth is greater than its direct contribution,the marginal production rate of production factors in wholesale and retail industry is less than the marginal productivity of other sectors of production factors.compared to the United States,China’s direct and indirect contribution of wholesale and retail industry to economic growth were lower.On this basis,this paper points out that some problems existed in wholesale and retail trade in China,and puts forward some suggestions,such as attaching importance to the Balanced development of wholesale and retail industry between urban and rural areasthe、speeding up the development of information technology in wholesale and retail industry、improving the quality of employees、establishing a modern wholesale and retail concept,leading the wholesale and retail enterprises toward chain,group,cluster and so on,in order to provide theoretical support for our country to formulate a reasonable policy which will develop wholesale and retail industry.The innovation of this paper:Feder model was introduced into the analysis of indirect contribution of wholesale and retail trade to economic growth,makes the analysis more comprehensive,ensure the reliability of the scientific research and the conclusion;in this paper,we also study the contribution of wholesale and retail trade to economic growth in the United States.Through the comparison,we find the deficiency of the wholesale and retail trade in our country.The inadequacies of this article:This paper only studies the wholesale and retail industry’s contribution to the economic growth,with no research about the impact on employment,industrial structure,income and consumer welfare,which is not extended to the contribution to the economic development;Only studied the wholesale and retail trade spillover effects for other departments of national economy as a whole,rather than the relationship between wholesale and retail and a specific department of national economy.This paper mainly divides into seven chapters.The first chapter is the introduction,mainly introduces the research background,literature review,significance,ideas and methods,as well as the innovation and deficiency of this paper.The second chapter defines the concept of wholesale and retail trade,economic growth and Feder model,and then introduces the mainstream of economic growth theory and circulation economics.The third chapter introduce the development of wholesale and retail trade in China since the reform and opening up.In the fourth chapterthe effect of wholesale and retail trade on economic growth is analyzed theoretically,then "economy,wholesale and retail trade" model is constructed,Using quantitative analysis method,the China’s economic empirical data are used to know the direct contribution of the wholesale and retail industry to economic growth Using Feder model to analyze the indirect contribution of wholesale and retail trade to economic growth.The fifth chapter analyzes the direct and indirect.contributions to the economic growth of the wholesale and retail business in the United States,and makes a comparative analysis between China and the United States.The sixth chapter analyzes the problems of the wholesale and retail industry in China and puts forward suggestions Suggestions on improving the wholesale and retail trade and promoting economic growth.The seventh chapter summarizes the content of this article and introduce research direction in the future.