Research On The Combined Development Of Strategic Emerging Industry And Traditional Industry In Shangdong

At present,China's economy has entered the developing phase of "New Normal",being at the defining point of the superposition of three stages--the digestion of pre-stimulation,the throes of structural adjustment and the shift of economic growth rate.Deepening economic reform is critical to get through this period in which great economic opportunities and intractable development challenges coexist.Optimization and upgrading of industrial structure is a top priority.This paper attempts to the figure out the theoretical basis of the integrative development of strategic emerging industry and traditional industry,and feasible methods to the development.Through investigating the sample in Shandong Province with representativeness,particularity and referentiality,the paper summarizes the rule and the experience of industrial integrative development in "Shandong Model".Therefore it provides references to the industrial integrative development,and the optimization and upgrading of industrial structure for China.This paper summarizes related research on the integrated development of strategic new industries.Besides the paper introduces the industrial integration dynamics,the integrated development syllogism between new industries and traditional industries,the analysis method of industry convergence is introduced in detail,which lays the foundation for the empirical analysis.On the basis,the paper analyzes the positive correlations between two long-existing developing industries in 32 provinces through a descriptive analysis of panel data,and points out why the paper selects Shandong Province as sample of provincial industrial integration.After the introduction of a theoretical framework of endogenous economic development,the paper adds elements of industrial integration to the economic growth model and summarizes the integrating way of new plates and traditional plates,aiming to provide feasible ways for the integrated development of new plates.To lead in industrial convergence factors into the economic growth model,the analysis framework of Endogenous Economic Growth Theory is introduced,and then drawing a conclusion that the penetration and integration way between emerging sectors and traditional sectors could be considered as a feasible path to the convergence of emerging sectors.A series of verification such as mixed regression model fitting,fixed effect model fitting,random effect model fitting as well as System-GMM model fitting could help measure the merging degree of two types of industries in Shandong Province,find the evidence of industrial convergence and choose the manufacture-related service industry which has close connection with strategic emerging industries,and then set up more perfect measures utilizing the input-output table of Shandong Province in 2013 in order to measure the merging degree of emerging industries and manufacture-related service industries,so that the fact could be demonstrated that the convergence between strategic emerging industries and traditional industries plays a positive role in promoting economic growth and industrial upgrading.Finally,the paper adopts a co-integration analysis of emerging industry and traditional industry in order to ensure whether there is a long term relationship between emerging industry and traditional industry.Based on the above research and analysis,the paper summarizes the main points and research conclusions,epitomizes the major conclusions and puts forward the polices and suggestions with reference value.The conclusion of this paper is significant to the development of industry integration.The experience and research framework of “Shandong Mode” is referable for China's provinces to prompt two kinds of industry integration and accelerate optimization and upgrading of industrial structure.The following research would focus on the feasible method of industry integration and the integration of strategic emerging industry.