Research on the Estimation of the Optimum Industrial Structure in Fuzhou
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This paper defined the meaning of the optimal industrial structure, established the endogenous growth model, and constructed the optimal growth path and convergence rate formula of the three industries. This paper estimated the optimal industrial structure of Fuzhou from 1989 to 2018, which is a developed coastal city in China. The results showed that the real growth rate and the optimal convergence rate of each industry maintained a certain relationship of the same direction, and there is also a significant gap between them in different periods. There were correlations and convergence changes between the real growth rate and the optimal convergence rate of the three industries in Fuzhou. It can clearly reflect the three industrial restructuring policies and the in-depth development of economic reform in Fuzhou, which began in the 1990s.
Fuzhou city; The three industries; Optimal industrial structure; Optimal convergence rate