The Influencing Factors of the Service Industry Development in China ——Based on the Empirical Analysis of Provincial Panel Data
WEI Jun-ying1,2
1.School of Economics, Yangtze University, Jingzhou 434023, China; 2.The Rural Development Research Center of Hubei Province, Yangtze University, Jingzhou 434023, China
Abstract The article identifies the factors affecting the development of service industry by considering the regional differences and analyzes the impact of those factors on the development of service industry by the gradual system of GMM based on the provincial panel data from 2005 to 2011. The results show that labor and capital inputs have a stable but relatively small positive influence, of which the capital has a smaller effect; the main factors include aggregation degree of service industry, development inertia, economic development level and the level of industrialization, such factors have a larger significantly positive influence on the development of service industry; final demand has a significant but relatively small negative effect. Based on the above results, it comes to the conclusion that promoting the further development of service industry needs to increase capital investment in modern service industry, to stimulate the final consumption demand, to propel service trade liberalization and guide service industry cluster development.
WEI Jun-Yang. The Influencing Factors of the Service Industry Development in China ——Based on the Empirical Analysis of Provincial Panel Data. Economic Survey, 2014, 31(5): 075.
2014, Vol. 31 
