alexa Abstract | Biomedicine industry's role in promoting economic growth -The empirical analysis based on the data of Jiangxi province

Journal of Chemical and Pharmaceutical Research
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Abstract

As internationally recognized, biomedicine industry is a sunrise industry with high efficiency and low consumption of energy. It is also one of the traditional industries in Jiangxi Province. In this paper, authors use cointegration test and granger test, and build long-run balance cointegration and error correction model equation with data of biomedicine industry's gross output and regional production from 1985 to 2012 in Jiangxi Province. By analyzing it knows that there is a long-term stable balance relationship between the biomedicine industry in Jiangxi province development and economic growth. The development of biomedicine industry has a great role in promoting the economic growth of Jiangxi Province.

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Author(s): Chunhai Tao

Keywords

Biomedicine industry, Economic Growth, Cointegration test, Granger causality test, Jiangxi province

 
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