A Research On The Development And Effects Of The Economic Relationship Between Guangdong And Macao In Perspective Of Regional Integration

The economic cooperation between Guangdong and Macau has been increasingly closer since the implement of the reform and opening-up policy in Mainland China. Due to Macau's own microeconomic attribute, the Guangdong-Macau economic relationship showed dissimilar characteristics during different historical stages, which varied from Guangdong-Hong Kong economic relationship. After the reunification of Macau, the Guangdong-Macau economic relationship has been springing up, which characterizes an irresistible trend of economic integration under the vigorous leadership of central government and Macau SAR government. Macau got rid of its economic slump and achieved a growth by leaps and bounds in the integration process. There are more and more apparent co-movements between Macau's rapid economic growth and the rapid-developed Guangdong-Macau economic relationship.Therefore this thesis first makes a general summary for correlation theories and practices of regional integration, and then does some system reviews on the evolution and development of Guangdong-Macau economic cooperation process before the handover, from which the thesis can summarize the periodical features and the internal mechanism of it; On the basis of the work above, the thesis subsequently gives a selective analysis on the traits of the Guangdong-Macau economic relationship and the respective role of the two regions in it during the 10-year reunification of Macau; Finally, basing on the VAR model, this thesis utilizes the Impulse Response Function and Variance Decomposition methods to analyze the degrees and trends of the effects that the Guangdong-Macau economic relationship's specific fields have on Macau's economic growth, so as to get a better prospect of the further Guangdong-Macau regional economic cooperation orientations and the corresponding policy proposals.The results of this thesis's research shows that the import and export trade and the mutual investment between Guangdong and Macau have a positive influences on Macau's economic growth; Under the impulsion of the "Free Action Program" policy in Mainland China, it's the boom of the number of Macau's visitors from Guangdong that plays an important part in the great leap forward of Macau economy. In the new period, using economic globalization and regional integration as the media, Macau is required to make a fast footstep to integrate into Guangdong economy which mainly consists of Pearl River Delta area economy, which is dictated by the its property of microeconomy:With the continuous and increasing development of the Guangdong-Macau economic relationship, taking advantage of the systems and policies supported by central government, Macau must try to attain its appropriate industrial diversification; Contemporarily, Macau also should strive to nurture its advanced manufacturing industries and modern service industries at the same time as keeping up the good work of its gambling and lottery tourism industry.