A Study on Service Sector’s Role in Economic Growth of Shandong Province and Contermeasures
|School||Huazhong University of Science and Technology|
|Keywords||Service industry Economic growth Industrial structure|
As an coastal economy province, Shandong province has unique regional advantage, so service industry must be developed vigorously. Because industrial structure could be promoted, traditional industry could be upgraded, living standards of people and service quality could be improved, urbanization progress could be accelerated, spirital civilization could be constructed, an economically powerful province could be builded through rapid development of service industry.With the basis of a theory“Petty-Clark”, this article has mainly utilized the method of theoretical analysis and empirical analysis, qualitative analysis and quantitative analysis, and comparative analysis. The article thinks that growth rate of service industry is lower than growth rate of gross domestic product in Shandong province. Traditional service industry plays an important part. How to improve service industry becomes a significant section of economic growth in Shandong province.First of all, starting from the history of the evolution of industrial structure, this article describes that service industry is still relatively low level and the internal structure is still the traditional service-based in Shandong province. Secondly, the article summaries service sector’s gap and advantage in industrial scale, increasing speed, employment structure and fixed assets investment by comparative analysis, and hold the higher the per capita GDP of the city, the faster the development of service industry. Then it proves that the development of service sector is attributive to labor, capital and technology by regression analysis and the development of service industry has not achieved increasing returns to scale. The article confirms there is a casual relationship between economic growth and service industry using Granger causality test. Again, according to previous analysis, these problems existing in the development of service sector are found in Shandong province. Finally, according to the rules of development, combined with lots of comments about accelerating development and the government reports on the key of developing“six big industies”, these countermeasures of accelebrating development of service industry and improving economic growth are raised in Shandong province.