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A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China

Received: 27 June 2022     Accepted: 14 July 2022     Published: 22 July 2022
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Abstract

Since the 1980s, the global economy has shown a general trend of transition from an industrial economy to a service economy. The service industry has gradually become an important engine for world economic growth. The intelligent service industry has developed rapidly and has become an important industry to promote regional economic growth. This paper first adopts panel VAR (Vector Autoregression) and the Feder two-sector model to study the diffusion and lag effects of smart technology on the smart service industry sector itself, the industrial sector, and the entire economic system. The research results confirm that China’s intelligentization and industrialization have formed a preliminary coupling interaction mechanism. Under the new normal, the intelligent service industry has become one of the emerging drivers of economic growth, and the diffusion effect of the intelligent service industry on economic growth will take 2-5 years. Since there is a two-way causal relationship between the intelligent service industry and the economic environment, the dynamic panel sys-GMM (System Generalized Moment Estimation) regression is used to investigate the lag effect of the factors affecting the development of China's smart service industry. It is proposed to adopt intellectual property protection and a common technical support system and enhance the hysteresis effect.

Published in International Journal of Business and Economics Research (Volume 11, Issue 4)
DOI 10.11648/j.ijber.20221104.11
Page(s) 204-209
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Information and Communication Technology, Intelligent Services Industry, Diffusion Effect, Hysteresis Effect

References
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[4] Romer, PM. (1986). Increasing returns and long run growth. Journal of Political Economy, 94 (5), 1002-1037.
[5] Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 1988. 22 (1), 3-42.
[6] Welfens PJ. (2002). Interneteconomics. net: macroeconomics, deregulation, and innovation. Springer Science & Business Media.
[7] Biswas, D. (2004) Economics of Information in the Web Economy: Towards a New Theory? Journal of Business Research, 2004, 57 (7): 724-733.
[8] Kazuyuki, M. & Takahito, K. (2008). Information technology and economic growth: a comparison between Japan and Korea. Seoul Journal of Economics, 21 (4), 505-526.
[9] Jonscher, C. (1983). Information resources and economic productivity. Information economics and policy, 1 (1), 13-35.
[10] Jorgenson, D. W., Stiroh, K. J., Gordon, R. J., & Sichel, D. E. (2000) Raising the speed limit: US economic growth in the information age. Brookings papers on economic activity, 125-235.
[11] Ranney, J. D. and Troop-Gordon, W. (2015). Problem-focused discussions in digital contexts: The impact of information and communication technologies on conversational processes and experiences. Computers in Human Behavior, 51, 64-74.
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[13] Datta A., Agarwal S. (2004). Telecommunication and Economic Growth: A Panel Data Approach. Applied Economics, 36 (15), 1649-1654.
[14] Tenny, L. Z. (2022). Dynamics of Inflation and Remittances on Economic Growth in Liberia: A Granger Causality Approach. International Journal of Business and Economics Research.
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  • APA Style

    Xiangjun Peng, Ya Li, Ryan Shum. (2022). A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China. International Journal of Business and Economics Research, 11(4), 204-209. https://doi.org/10.11648/j.ijber.20221104.11

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    ACS Style

    Xiangjun Peng; Ya Li; Ryan Shum. A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China. Int. J. Bus. Econ. Res. 2022, 11(4), 204-209. doi: 10.11648/j.ijber.20221104.11

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    AMA Style

    Xiangjun Peng, Ya Li, Ryan Shum. A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China. Int J Bus Econ Res. 2022;11(4):204-209. doi: 10.11648/j.ijber.20221104.11

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  • @article{10.11648/j.ijber.20221104.11,
      author = {Xiangjun Peng and Ya Li and Ryan Shum},
      title = {A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China},
      journal = {International Journal of Business and Economics Research},
      volume = {11},
      number = {4},
      pages = {204-209},
      doi = {10.11648/j.ijber.20221104.11},
      url = {https://doi.org/10.11648/j.ijber.20221104.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20221104.11},
      abstract = {Since the 1980s, the global economy has shown a general trend of transition from an industrial economy to a service economy. The service industry has gradually become an important engine for world economic growth. The intelligent service industry has developed rapidly and has become an important industry to promote regional economic growth. This paper first adopts panel VAR (Vector Autoregression) and the Feder two-sector model to study the diffusion and lag effects of smart technology on the smart service industry sector itself, the industrial sector, and the entire economic system. The research results confirm that China’s intelligentization and industrialization have formed a preliminary coupling interaction mechanism. Under the new normal, the intelligent service industry has become one of the emerging drivers of economic growth, and the diffusion effect of the intelligent service industry on economic growth will take 2-5 years. Since there is a two-way causal relationship between the intelligent service industry and the economic environment, the dynamic panel sys-GMM (System Generalized Moment Estimation) regression is used to investigate the lag effect of the factors affecting the development of China's smart service industry. It is proposed to adopt intellectual property protection and a common technical support system and enhance the hysteresis effect.},
     year = {2022}
    }
    

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    T1  - A Comparison of Growth Pattern between Intelligent Services Industry and Communication Industry in China
    AU  - Xiangjun Peng
    AU  - Ya Li
    AU  - Ryan Shum
    Y1  - 2022/07/22
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    DO  - 10.11648/j.ijber.20221104.11
    T2  - International Journal of Business and Economics Research
    JF  - International Journal of Business and Economics Research
    JO  - International Journal of Business and Economics Research
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    EP  - 209
    PB  - Science Publishing Group
    SN  - 2328-756X
    UR  - https://doi.org/10.11648/j.ijber.20221104.11
    AB  - Since the 1980s, the global economy has shown a general trend of transition from an industrial economy to a service economy. The service industry has gradually become an important engine for world economic growth. The intelligent service industry has developed rapidly and has become an important industry to promote regional economic growth. This paper first adopts panel VAR (Vector Autoregression) and the Feder two-sector model to study the diffusion and lag effects of smart technology on the smart service industry sector itself, the industrial sector, and the entire economic system. The research results confirm that China’s intelligentization and industrialization have formed a preliminary coupling interaction mechanism. Under the new normal, the intelligent service industry has become one of the emerging drivers of economic growth, and the diffusion effect of the intelligent service industry on economic growth will take 2-5 years. Since there is a two-way causal relationship between the intelligent service industry and the economic environment, the dynamic panel sys-GMM (System Generalized Moment Estimation) regression is used to investigate the lag effect of the factors affecting the development of China's smart service industry. It is proposed to adopt intellectual property protection and a common technical support system and enhance the hysteresis effect.
    VL  - 11
    IS  - 4
    ER  - 

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Author Information
  • College of Economics and Management, Chongqing Normal University, Chongqing, China

  • LSK School of Business and Administration, Hong Kong Metropolitan University, Hong Kong, China

  • LSK School of Business and Administration, Hong Kong Metropolitan University, Hong Kong, China

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