An Empirical Analysis on the Relationship between Logistics Development and Economic Growth in Henan Province

Abstract

In this paper, there is an empirical analysis on the relationship between logistics increase and economic growth in Henan province with a dynamic econometric analysis method based on VAR model. The research result shows that there is a stable long-term equilibrium relationship between logistics increase and economic growth, the elastic coefficient about economic growth in the development of logistics industry is 0.4924, GDP has a great pulling effect on the development of logistics industry; and there exists one-way causality: economic growth has promoted logistics increase, the converse is not true. Judging from the analysis of impulse response function, there is a close and long-range relationship between economic growth and logistics increase. Therefore, in order to stimulate the rapid development of Henan logistics industry, a long-term policy instead of short-term one should be adopted to guarantee the positive pulling force of economic growth on logistics industry.