Dynamic grey incidence analysis between the industrial structure evolution and the regional economic growth: An empirical study based on Jiangsu Province

According to the industrial structure evolution and the regional economic growth in Jiangsu province since 1978, this paper investigated their dynamic relationship by phases with the method of grey incidence analysis. The results show that: based on the tertiary industry development, the market mechanism of industrial transformation has been formed; by the invisible hand of the market, the factors of production can be transferred to the tertiary industry, thus promoting the economic development and the transformation of the economic growth mode in Jiangsu; as the industrial structure evolution, to a large extent, relies on the relationship among three industries, the over-emphasis on the development of certain industries will inevitably bring about non-balanced development of inter-industry; in addition, the financial and real estate sectors play an irreplaceable role in promoting the economic development, and so it is very significant to maintain their healthy and stable development. In short, it should be an ultimate goal for Jiangsu Province to upgrade and rationalize the industrial structure, and to balance the inter-industry development.