Measurement and Analysis of Contribution of Economic Factors to Economic Growth in Six Provinces and Shanghai City of East China Based on the Same Technique
Scientific and quantitative measurement of the function of the economic factors in the development of economy plays a significant part in formulating economic developmental strategy and pulling forward Chinese economic development in a fast, persistent and steady way. On the basis of analyzing the function of economic factors to economic growth, the article measures the contribution of economic factors to economic growth, the technological level and its progressive rates in the six provinces and Shanghai city of East China with the method of using gray clustering to confirm regressive variable and calculating elastic coefficient with improved Cobb-Douglas function model. It also analyzes the contributing rate of economic growth factors in order to make a further recognition of the effective degree of economic factors to economic growth in areas, especially the contribution of technological progresses. Through research the article finds out: (1) Technique progresses ascend continuously in six provinces and Shanghai city of East China from 1990 to 2004; (2) In the six provinces and Shanghai city of East China, the contributing rate of bankroll input to economic growth exceeds 50%, bankroll input is still the current motivation of economic growth in East China: (3) The technological progress in Shanghai and Jiangsu province are of the biggest contribution to the economy, achieving 42.7% and 42.2%. In contrast, Zhejiang province is the lowest, achieving 25.1%.