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The intensive growth effects of demand structure adjustment on economic growth of China

Yan Du

The intensive economic growth will contribute to solving the problem of resource and environment constraints on the economic development, whereas enhancing the productivity of production factors is the key to promoting the intensive economic growth. In this paper, we put forward that to improve the output efficiency of production factors and then realize the target of intensive growth through adjusting the demand structure, namely changing the conditions or environment of production factors on output effect. Based on this idea, we constructed the threshold cointegration model and conducted empirical research with the data collected between 1978 and 2011, the results of which show that the demand structure will have significant threshold effect on the output efficiency of production factors, and adjusting the demand structure can effectively improve the output efficiency of production factors.