An empirical analysis of Expanding Effective Investment to Promote Industrial Development——Take Hubei Province as an example

Abstract

Abstract The industry is the main body of the economy and the leading force of regional economic development. To analyze the influence mechanism of consumption, investment, and export on the industry of Hubei Province, this paper uses the monthly data of Hubei Province from 2011 to 2019 to establish a VAR model. The results show that investment has the most significant impact on the industrial development of Hubei Province. It is necessary to expand effective investment according to the industrial base of Hubei Province, to promote industrial transformation and achieve high-quality development.