Econometric analysis of resource constraint of economic growth for Shandong Province

Key words:  economic growth  resource constraint  growth drag  econometric analysis

Abstract:

Based on the hypothesis of "growth drag" due to the limits of carrying capacity of environmental resources, under the framework of new economic growth theory,this paper developed a measurement model on the constraints in resources on the sustainable growth of economy, and computed the growth drag coefficients of energy, land and water resources using the data from 1979 to 2012. The results show that energy consumption and land utilization are two main constraining factors on the sustainable growth of economy in Shandong Province. Shandong should speed up the transformation of the economic growth mode, and promote the progress of science and technology to reduce the constraints of environmental resources on economic growth,especially strengthening the technological progress to offset the growth drag of energy and land constraints on the sustainable economic development.