An Empirical Study On The Relationship Between The Development Of Logistics Industry And Economic Growth In Hubei

With the development of new China's reform and opening up nearly 40 years,the economy of Hubei province has achieved rapid progress,and its industrial structure has been optimized constantly,which has promoted the rapid growth of the national economy.Under the background of new challenges and situation,Hubei province should make full use of the advantages of economic development,make up the disadvantages,and speed up the industries,especially the leading industries,and then promote the development of other industrial to achieve the goal of optimizing the industrial structure,so as to promote the faster development of the national economy.The logistics industry is a product of a certain period of socio-economic development.It is a compound industry which covers the logistics resources in agriculture,manufacturing and service industries.The development level of logistics is the reflection of comprehensive strength and modernization of a country or a region.From the perspective of the development process,the relationship between logistics industry and regional economy is mutual promotion and coordinated development.This paper mainly expounds the coordinated development of Hubei's logistics industry and regional economy from the following aspects.First,on the basis of a large number of domestic and foreign literatures,according to the relevant theories of logistics industry and regional economy,this paper analyzes the interaction mechanism between logistics industry and regional economy.Then,based on the principle ofconstruction of evaluation index system of evaluation,combined with the development of the logistics industry and regional economy in Hubei,the evaluation index system of Hubei's logistics industry and regional economic development is initially constructed,and this paper uses the principal component analysis to filter indicators.Finally,this paper makes an empirical analysis of the coordinated development relationship between the logistics industry and regional economy in Hubei province during2005-2014,the stability of each indicator is tested through the Augmented Dickey-Fuller(ADF)method.The co-integration theory is used to determine the relationship between vector and elastic coefficient,and determine the co-integration relationship between the influencing factors,and Granger causality analysis is used to find out the mutual influence between them.The empirical results show that there is a long-term equilibrium relationship between logistics industry and economic development in Hubei province.