Analyzing of driving-forces of economic growth: Based on Hebei province

The main issue of economic growth research is driving factors. This article explores economic growth driving factors´ output elasticity and contribution rate in a sample interval, using extended Cobb-Douglas production function with Hebei´s data between 2001 and 2008. It also analyses Hebei´s characteristics of economic growth mode in the latest 8 years. The result of empirical study shows that our nation´s economic growth type at present is still resource driven pattern, which means that the input of labor and capital plays the main driving action in increasing output growth rate, and knowledge innovation´s promoting effect on output growth rate is not obvious. These empirical findings not only confirm the necessity and correctness of Hebei´s practicing Reform and opening-up in experience, and also provide scientific accordance for Chinese government coming up with “scientific development”, “changing the style of economic growth” since 2005 and Hebei putting forward “building coastal economic and social strong province” in 2009.