A Study About Institutional Change On The Impact Of Guangdong's Economic Growth

After reform and opening up, China's economy has increased a huge quantities. As a "pioneer", Guangdong province has a faster rate of economic growth. To see the panoramic view on the history of economic growth in Guangdong, we can find Guangdong's economy became prosperity from wild. Also we can witness recession after the prosperity. Guangdong's institutional change has great impact on the economic growth. Study on the effect of significant institutional change on economic growth in Guangdong Province, not only reveal the frequent relationships between institutional change and economic growth, but also conducive further development of Guangdong'economy. After all, to study this topic can provide experience to the rest of the country.Growth theory of new institutional economics let people has a better understanding on the path of institutional changes affecting economic growth, and incorporated institutional change into the model for empirical test make the thesis more convincing. This article will integrate theory with practice, form the informal institutional change and formal institutional change these two sides to discussion the topic. In empirical part, at first ues factor analysis method to establish the index system. Through the comparison with other provinces and analysis Guangdong's institusional change's performance, we can make the conclusion: Because of the characteristic institusional changes ensuring Guangdong's rapid economic growth, if there was no instituoanl change happen Guangdong's economic performance would become lower than the real situation.This article has three new ideas: first, Quantification of informal institusional change. Second, using factor analysis method to establish the index system. At last, using BP method to measure the performance of Guangdong'institusional change. Because of my limited knowledge, experience, there also has many deficiencse in this article. But this research has a reasonable basis and framework, we can continue and expand this research in near future.