GREY RELATION ANALYSIS BETWEEN INDUSTRIAL STRUCTURE AND ECONOMIC GROWTH BASED ON PANEL DATA

In the process of social economic development, the change of industrial structure is closely related to the economic development. This paper selects per capita gross product and the output value of three industries of seventeen prefecture-level cities of Shandong province in China from 2012 to 2016, and discusses the relationship between industrial structure and economic growth of Shandong province through the method of grey relation theory. Results show that the correlation between economic growth and the primary industry is greater than that between economic growth and the secondary industry and the tertiary industry.