Journal of Chemical and Pharmaceutical Research (ISSN : 0975-7384)

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Original Articles: 2014 Vol: 6 Issue: 2

Analysis of industrial investment efficiency based on co-integration theory and error correction model

Abstract

Elaborating the theory of industrial investment efficiency, co-integration and error correction model, the paper analyzes the current situation of Hebei industrial investment efficiency briefly and utilizes co-integration test and error correction model to do an in-depth analysis, according to the statistical data of the GDP, the GDP of the three industries, the total fixed asset investment and the total fixed asset investment of the three industries in Hebei province between 1990 and 2011.The conclusions are that the overall industrial investment efficiency of Hebei is low in 1990-2011, the large fluctuation of the primary industrial investment efficiency and low investment efficiency and unreasonable structure of the tertiary industry are the important factors restricting economic growth of Hebei Province, and Hebei should increase the scale of investment and optimize investment structure based on the characteristics of each industry to improve the industrial investment efficiency and achieve sustained and stable economic growth in Hebei province.