Author(s)

Yuhan Peng, Linxuan Guo, Ziyi Wang, Ningyue Zhang, Wenhui Chen

Corresponding Author

Wenhui Chen

Abstract

The development of the forestry industry requires the synergy of various industries, so it is of practical significance to measure the correlation between the forestry industry and other industries. This paper uses the data of the total value of forestry output and the value-added of eight industrial sectors from 2004 to 2017 to study whether there is a correlation effect between the forestry industry and various industries through the Granger causality test and gray correlation analysis model. The Granger causality test concludes that there is a strong backward correlation between construction, transportation, warehousing and postal industries, wholesale and retail, accommodation and catering, financial and real estate, and forestry. At the same time, the grey correlation analysis results show that the correlation coefficients between the forestry industry and the wholesale and retail industry, transportation storage and postal industry, construction industry, accommodation and catering industry, financial industry, and real estate industry are: 0.6665, 0.6164, 0.6157, 0.6021, 0.5771, 0.5766.

Keywords

Forestry, correlation effect, Granger causality test, grey correlation analysis