Coordinated Development of Economic Efficiency with Economic Growth, economic Structure and Growth Quality: an Empirical Study in Wuhan City

The coordinated development of economic efficiency with economic growth, economic structure and growth quality is the inherent requirements of building a well-off society and realization of social harmony. By using an empirical model, this paper has empirically tested the interdependent relationships among economic growth, economic structure, growth quality and economic efficiency in Wuhan city. Through constructing a set of comprehensive statistical indicators of the above four economic development dimensions, we conclude that acceleration of the speed of economic growth, optimization of the economic structure, as well as enhancement of the quality of economic operation all effectively improve the economic efficiency in Wuhan City. What's more, we also found that the effect varied with different economic dimensions. Optimization of the economic structure contributes most to economic efficiency. One percent change of comprehensive index of economic structure will generate about twenty percents of change in terms of economic efficiency. Finally, policy recommendations in terms of how best to achieve the coordinated development of economic efficiency with economic growth, economic structure and growth quality are discussed in details.