Research on the Economic Effect of Logistics Hubs Based on Co-Integration Analysis

The logistics hub economy is in essence a way of economic value creation which depends on the efficient allocation of resources by logistics hubs. How well a logistics hub can aggregate resource elements directly shows the level of logistics hub economy. Based on the theory of co-integration analysis, this paper measures the economic effects of logistics hubs from the perspective of the effect of logistics hubs on the aggregation level of resource elements in the logistics hub city. First, an evaluation index system is established. Afterwards, econometric approaches, such as ADF unit root test, Johansen co-integration test, Granger causality test, error correction model, are used to discuss the relationship between a hub logistics and the aggregation of resources of the hub city, which can be used to measure the economic effect of a logistics hub. Suzhou national port-type logistics hub is taken as the research object. The results shows that Suzhou port-type logistic hub does have an impact on the aggregation of urban resources in Suzhou. In the short term, a 1% increase in the former leads to a 0.1529% increase in the later; and in the long run, a 1% increase in the former will leads to a 0.6261% increase in the latter.