The Relationship Between Industrial Structure and Economic Growth in China— An Empirical Study Based on Panel Data

Abstract

Industrial structure plays a vital role in social and economic progress, as well as the core in the domain of industrial economics. This paper reviewed the coordination of industrial structure and employment rate in primary, secondary, and tertiary industry, respectively by looking at its coordination coefficient. More importantly, this paper examined the relationship between industrial structure and economic growth using panel data from 2011 to 2019 and constructing a GMM model to measure the effects. Our findings indicate that the acceleration in economic growth, to a large extent, can be credited to an enhanced contribution from the service sector.