Analysis On Factors Of Region Economic Growth Based On Panel-data Model

The district economy is the constitutive part of the national economy. The factors of its growth are similar to the national economy. But the economic growth is the result of interaction of internal and various factors in a complicated system. So the research of the economic growth must steer from the angle of the system. Then it can receive the effective conclusion. First this text steers the research to the economic development condition of the district economy. The viability of the economic development, which is motivated because of the dispensation reform, facilitated the district economy of our country to develop. Through more than 20 years of reform, the feature of district economy took place the very big change. The rate of economic growth sped;the economic development level raised;the resource installed the tendency reasonable, the advantage of the region developed;the result of infrastructure construction showed the effects. The economic development and the environment are improved greatly. With the increase of economy, the national power strengthened obviously, the living level of people shows the exaltation evidently, but the gap of the district economic development doesn't receive the available settle, some aspects further incline to outstanding. Though the development gap of the district economy once appeared the downsizing of the certain extent in the beginning of 90's, 90's later the gap extends gradually again, and the gap extensive span exceeded the span that previous period contract. At present the economic gap of the three districts is very obvious, exceeds former whichever time. From the angle of the metered search, this text sets out the impact of economic growth of the Chinese district. Institutional reform in China was along three aspects: One is the change of the resource scheme; Two is the change of the economic principal equities system; Three is the adjusting of the development strategic. To these three sides, we take into the generous character with three different indicators respectively: (1)The denationalisation level( NOSW): NOSW= not state-owned value of gross output/ all value of gross output; (2)The extent of the market turns ( MRL): MRL=( the GDP of that year -national finance outgo)/the GDP of that year; (3)The extent of open( DRL): DRL=( the export×exchange rate)/ the GDP of that year. To the human capital, we may use the average year of education to replace: Human capital=( the population of university ×17+ the population of senior high school ×12+ the population of junior high school ×9 + the population of primary school ×6) / the population over 15 years of age. To the physical capital, we choose the proportion of the equipment invest to GDP to replace. To the variable of the industrial structure, we choose the proportion of the first, the second, the third occupation value to GDP to replace. We use personal as main indicator. The paper analyses the relationship between human capital, physical capital, institutional reform, industrial structural and economic growth for 29 districts in China by the panel-data model from 1990 to 2003. We adjust the personal GDP with 1978's invariable. For comparison, we steered the standardization to the indicator firstly. Because we are just to steer the analysis to the effect of oneself of sample, and we also take to heart each regional and particular impact of the condition upon the economic growth, the fixed effect model of the Panel-data has theadvantage in this aspect, so we build up the model for: yi t = αi+β1 x(it1 )+β2xi(t2)+β3xi(t3)+β4xi(t4)+β5xi(t5)+β6xi(t6)+β7xi(t7)+β8xi(t8)+μit i =1, 2,L,29; t =1, 2,L,24 Among them, y it denotes the personal GDP of region i at time t, x i(t1) denotes the human capital of region i at time t, x i(t3), x i(t4), x i(t5) denotes the proportion of the first structure GDP, the second structure GDP, the third structure GDP to GDP of region i at time t respectively, x i(t6), x i(t7), x i(t8) denotes the extent of the market turns, the extent of open, the denationalisation level respectively. We use the software of Eviews 4.0, the model that we received is as follows: Eastern region: ititititiititititxxyxxxxμα+++=+??+(6)(8)1)(2)(3)(5)0.0260.6370. 312( 0.0690.1770.228 Central region: itititititiititititxxxyxxxxμα++++=+???(5)(6)(8)1)(2)(3)(4)0.0630.0570.5090. 324( 0.0550.1290.031 Western region: ititititiititititxxyxxxxμα+++=++++(7)(8)1)(4)(5)(6)0.0550.5170. 292( 0.0750.2160.118 As a result, the denationalisation level is the biggest factor of all affect to three regions. So we must increase the state-owned enterprises reform strength, make the state-owned medium and small enterprises to be owned by private capital, the state-owned large enterprises diversification. Next, the human...