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China’S Industrial Structure Upgrade In The “New Normal”: Empirical Test And Determinants

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  • WEN XIAO

    (College of Economics, Zhejiang University, Hangzhou, P. R. China)

  • JIA-DONG PAN

    (#x2020;Zhejiang Institute of Administration, No. 1000, West Wenyi Road, Hangzhou, P. R. China)

  • LI-YUN LIU

    (#x2021;Department of Management, Zhejiang Chinese Medical University, Hangzhou, P. R. China)

Abstract

This paper measures the index of industrial structure upgrade nationally, regionally and provincially by employing angle cosine method. The results show that China’s industrial structure has upgraded and the East is higher than the Northeast and the Midwest. The paper presents an empirical study to examine the effect of variables including demand-side factors, New Normal as a dummy variable and supply-side factors on industrial structure upgrading. It implies that New Normal is not significant, while consumption, investment, technology improvement and labor supply significantly facilitate the upgrade. It highlights policy suggestions designed to adopt innovation-driven strategy and regional economy development strategy.

Suggested Citation

  • Wen Xiao & Jia-Dong Pan & Li-Yun Liu, 2018. "China’S Industrial Structure Upgrade In The “New Normal”: Empirical Test And Determinants," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 1037-1058, September.
    • Handle: RePEc:wsi:serxxx:v:63:y:2018:i:04:n:s021759081742005x
    DOI: 10.1142/S021759081742005X
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    Cited by:

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    2. Lin Zhu & Fan Dong & Liangwen Hu, 2023. "Mechanisms of How Private Equity Drives Industrial Upgrade: An Empirical Study Based on China’s Panel Data," Sustainability, MDPI, vol. 15(3), pages 1-15, January.
    3. Jian Xu & Binghan Wang, 2019. "Intellectual Capital Performance of the Textile Industry in Emerging Markets: A Comparison with China and South Korea," Sustainability, MDPI, vol. 11(8), pages 1-16, April.

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