Research On Regional Economic Convergence And Its Influencing Factors

In recent years, a large empirical literature has attempted to evaluate the evolvement among the economic growths indifferent countries or indifferent regions of one country.Whether income levels of poorer countries or regions of the world are converging to those of the richer countries or regions is a issue focused by people,and is by itself a question of paramount importance for human welfare.According to the theory of Barro & Sala-i-Martin, Chinese scholars have done a great deal of relevant empirical research on these issues mainly from theσ-convergence,β-convergence and club convergence of these three angles, using cross-sectional data method, time-series data method, Panel Data methodology, data envelopment analysis and other methods. On the basis of previous studies, using cross-sectional data and time series data of 11 citys and 56 countys in Zhejiang from 1978 to 2007, it systematically analyzed the issues of the regional economic convergence in Zhejiang in this article. Through testing fromσ-convergence,β-convergence and club convergence, drew some conclusions:①1978-2007, the per capita GDP growth of the 11 citys in Zhejiang Province, in general, existed a certainσ-convergence, and absoluteβ-convergence that the convergence rate is 2.54%;②56 counties in Zhejiang Province, the per capita GDP, in general, there was noσ-convergence, but in 1995-2007, 2000-2007, 1995-2000 , existed in the absoluteβ-convergence, and respectively 3.12 %, 1.70%, 4.84% of the rate of convergence;③1978-2007, the north, the northeast, the southeast and the southwest of Zhejiang didn't show that there were Clubs convergence trend. But 1978-1985, the Southeast existed the club convergence; 1985-1990, the North showed the club convergence trend; 1990-2007, the Southwestern had the club convergence trend .The above complex consequences resulted from various factors. through correlation analysis and regression analysis,we found that the marketization, industrialization and the investment rate had affected convergence of regional economic growth, especially the marketization.