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Quantitatively analyzing the synergistic effect of the development of regional logistics and economy by applying co-integration theory in econometrics

Author(s): Ronghua Fan

In the 21st century, the world economy and the logistics industry are gaining momentum with the constant development of economic globalization. For one thing, the fast development of economy made it possible for the development of the logistics industry. For the other, the robust development of the logistics industry accelerated the regional economic growth. The relationship between the higher level of regional economic development and constant growth of regional logistics industry has been the focus of logistics industry research. The paper aims to survey and dig into the environment of logistics industry and economic development of Anhui province by checking relevant statements, carrying out field study. Integrated with co-integration theory in the econometrics, quantitative analysis is conducted to check relevant data and find out quantitative association between regional logistics and economic development. Thus proposals are made to promote the economic and logistic development in Anhui province. Through series stationarity test, co-integration theory, error correction model and Granger test, the study finds that the relationship between regional logistics and economic development remains mutually promotive. The study shows that the ways to promote regional economic and logistic development mainly include: give full play to the driving effect of economic development on the logistic development, balance regional development in a flexible way, coordinate the efforts of economic and logistic development, and accelerate industrial restructuring.

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