Research into the Contribution Rate of Technological Progress to the Industrial Economic Growth of Xinjiang

Since the Silk Road Economic Belt initiative was put forward in 2013, the industrial structure of Xinjiang has become increasingly rationalized, and Xinjiang’s economic development has entered a stage of rapid development. Based on the Solow residual value method, this paper uses the gray correlation model to estimate the elastic coefficient of capital and labor input and calculates the contribution rate of technological progress in 25 industrial sectors in Xinjiang. The research results show that more than 50% of the industrial sector in Xinjiang contributes more than 50% to technological progress, and Xinjiang’s economy has entered a period of intensive rapid development