Empirical Study on the Interaction between Foreign Economic Trade and Pharmaceutical Manufacturing Industry Based on the Annual Data of 1998-2018 in China / 中国药房

ABSTRACT

OBJECTIVE： To invest igate the intraction between China ’s foreign economic trade and pharmaceutical manufacturing industry ，in order to provide the reference for China ’s foreign economic trade growth and pharmaceutical manufacturing industry development in the future. METHODS ：By collecting the data of China ’s foreign economic trade and pharmaceutical manufacturing industry during 1998-2018 issued by National Bureau of Statistics ，China Statistics Yearbook on High Technology Industry and China Statistics Yearbook on Scientific Technology ，referring to relevant literature method ，index system was established that includes the foreign economic trade system and the pharmaceutical manufacturing system. CRITIC method was adopted to assign the weight of data index and calculate comprehensive evaluation data. VAR model was used to analyze the interaction between China ’s foreign economic trade and pharmaceutical manufacturing industry and put forward the suggestions. RESULTS & CONCLUSIONS ：From the results of cointegration test ，foreign economic trade development played a strong role in promoting and driving pharmaceutical manufacturing industry development （correlation coefficient was 0.432 198）；from the results of Granger causality test ，the development of foreign economic trade was the Granger cause for pharmaceutical manufacturing industry development （confidence probability was lower than 0.001），but the pharmaceutical manufacturing industry development was not the Granger ’s reason for foreign economic trade （confidence probability was 0.358）. By the results of impulse response and variance decomposition ，it reflected an interrelationship between the two ，but the contribution of foreign economic trade to the development of pharmaceutical manufacturing is relatively small. It is suggested that China ’s pharmaceutical manufacturing enterprises should grasp the market demand and trade opportunities in time ，and further expand the scale of business by providing high quality pharmaceutices products ；make full use of new trade mode and speed up the circulation of pharmaceutical products in economic and trade activities so as to further expand the domestic and foreign markets of pharmaceutical products ；the state should formulate and improve the preferential and supporting policies for pharmaceutical manufacturing industry as soon as possible to reduce the burden for pharmaceutical manufacturing enterprises. In addition ，from the national level and the enterprise level ，we should appropriately increase the investment in scientific research of pharmaceutical manufacturing industry and increase industry cultiration，so as to promote the rapid development of pharmaceutical manufacturing industry and realize a virtuous circle of mutual promotion of foreign economic trade and pharmaceutical manufacturing industry.