Does Economic Structure Imbalance Restrict Economic Growth in Northeast China? ——Based on the Structure Equation Modeling
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Abstract By constructing an index system of the economic structure imbalance measurement and using the factor analysis method, this paper evaluates the economic structure imbalance level of Northeast China in 2015, and examines the impact of economic structure imbalance on economic growth based on the structural equation model. The results show that the imbalance of economic structure in Northeast China is at a moderate level in all. The rank of imbalance level from high to low is as follows:investment and consumption structure, regional economic structure, financial structure, payments structure, industrial structure. The structural equation model reveals that different structural elements induce different effects on economic growth. For example, the imbalance of financial structure, regional economic structure and investment and consumption structure inhibit economic growth, but industrial structure and regional economic structure still promote economic growth even though they are moderate unbalance. In the future, the industrial structure and the international payments structure should be optimized, the financial industry be developed, the investment and consumption structure as well as regional economic structure be improved. In addition, coordinating various structural elements is also important to achieve sustainable, healthy and stable economic growth in Northeast China.
2019, Vol. 36 
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