市场一体化与中国区域经济增长.docVIP

  Market Integration and Regional Economic Growth in China 5 10 15 20 25 30 35 40 45 Hong Tao, Ma Tao* (School of Management Harbin Institute of Techonology) Abstract: In this paper, we explore β-convergence of regional economic growth in panel data models with economic dependence. Using methods of spatial autocorrelation and spatial error, besides replace the spatial weight matrix with inter-regional linkages, we estimate the relation of market integration and regional economic growth from 1997-2011. Base on this, we establish three facts: The year of 2004 is a break point from 1997-2011, the process of market integration, the situation of regional economic growth and mutual effects of them all changed noticeably since then; In phase 1, there exists a trend of divergence, and the higher is the level of market integration, the larger is the disparity of regional economy; In phase 2, convergence effect arouse and the level of market integration has a negative correlation with regional economic discrepancy.We also confirm that the dynamic relationship of market integration and regional economic growth is determined by market power mainly. Key words: Regional Economics; Market Integration; Regional Economic Growth; Spatial Econometrics 0 Introduction China has been experiencing the drastic economic growth over the past three decades. According to Song et al. (2011), the annual growth rate of real GDP per capita is nearly 9% from 1992-2004[1]. At the meantime, what factors led to such great achievements has been a hot topic through the past thirty years.Among which, institutional reforms (Woo,1999[2]; Qian, 2003[3]), rapid accumulation of capital (Chow and Li, 2002[4]; Wang and Yao, 2003[5]), the inflow of foreign direct investment (Bai et al., 2010[6]) , human capital (Li and Huang, 2009[7]) and substantial improvement in total factor productivity (Bosworth and Collins, 2008[8]; Perkins and Rawski, 2008[9]) has been extensively studied. However, these studies assum