An Empirical Study on the Impact of Information Industry on Economic Growth

Abstract

With the rapid development of China's information industry, the information industry has gradually become a pillar industry of China's economy and society. In 2018, the total scale of China's information industry income reached 21.82 trillion yuan, accounting for 23.7% of the GDP during the same period, and its direct contribution to economic growth was 23%. In order to promote the better development of the information industry and its internal sub industries, and at the same time, to enable the information industry to better support the development of China's economy, the paper conducts in-depth research on the impact of various sub industries within the information industry on economic development. The research conclusions of the paper provide reference for the development of the information industry. Therefore, the research content of the paper has important practical significance. Based on the review of the existing literature and the summary of the theory, the paper selects the data from 2000 to 2018, and analyzes the long-term impact of the sub sectors of information industry: electronic information manufacturing industry, telecommunications industry, software service industry on economic growth by establishing the Vector Autoregression (VAR) econometric model.