Research On The Development Of Industrial Parks Based On The Transaction Costs Perspective

Industrial park, as an institutional arrangement which promotes plans and manages the industrial development, has always been an important part of many national and regional development strategies, as well as the main power source to promote industrialization, urbanization and economic growth. With the development of economy and society, the elements,subjects, and institutional arrangements which support industrial park's development are interacting and evolving; the industry gathering area, high-tech zones, technology parks, ecological parks, and industry-urban integration are continuously pushing forward; meanwhile, the meaning, function and form of the industrial park are continuously deepening. Just like Weber successfully explored the general factors that affect the industry gathering, this article will focus on researching the inherent economic principle of industrial park development. The author believes that as an exogenous institutional arrangement exist, the industrial park is following an endogenous economic law called industry gathering, which becomes a third form of economic organization between business form and full market form because of its special role on improving the integration of resources efficiency and reducing operating costs. The final study pointed out that the industrial park is in complying with the inherent economic logic of lowering transaction costs throughout its producing, developing and transforming processes. At the same time, the institutional arrangement has, from the initial exogenous variables, become the most important endogenous element in promoting industry gathering, optimizing resource allocation and playing corporate initiative. It is essential for the spiral development of the industrial park and lowering the transaction costs. In this article:A lot of research was made according to the field of transaction costs theory and its research progress, as well as the system, innovation and government function in the development of industrial parks, in order to build a basis for thoroughly studying the industrial park and the transaction costs.In the research, it is believed that the whole process of industrial park is to lower the transaction costs. It also analyzed in details on the factor resource, the interests subject, and the action mode between main body relationship and institutional mechanisms in the different period. In particular, as the industrial park is a special institutional arrangement, this research focuses on institutional factors, discusses the relationship between system factors and other factors, as well as how system factors affect the transaction costs of industrial park, thus a transaction cost analysis model of industrial park is given under both conditions of constant system and institutional change. In addition, it also discusses the natural advantages of the industrial park system in reducing the transaction cost compared with the enterprise system and the market system. Combined with the development of the current industrial park, the transaction costs of which seems too high in three aspects, the land use, the flow of factors, and the institutional mechanisms.In order to lower the high transaction costs which really exist in the development of industrial park, according to the characteristics of current economic and social development, the development of advanced countries and regions of industrial parks, along with the relevant typical cases.Besides Tongzhou and Z Park—Fengtai as two typical cases are studied.Under the background of Collaborative development of Beijing, Tianjin and Hebei, analysed the cooperative constructed Cangzhou biological medicine industrial park. At last aming at lower the transaction costs, the direction and policy suggestion of next step in the industrial park are put forward.