The Studies In Economic Institutional Change Of Pearl River Delta Region During The Transition Period

Based on China's economic transition, this paper firstly describes initial conditions of institutional changes in Pearl River Delta. Secondly it divides economic institutional changes into formal economic institutional revolution and informal economic institutional evolution, and then respectively inquires into local government's imposed institutional revolution and folk network's induced institutional evolution. What's more, it builds a simple game theory model through which the coupling relationship between formal economic institutions and informal economic institutional is transformed into a dynamic consistency problem. Finally, it corroborates marketable process in Pearl River Delta with the empirical data. It includes that under a series of endowment conditions, formal institutional revolution led by local government and informal institutional evolution driven by folk network complement each other and develop together, which makes formal economic institutions and informal economic institutions couple each other.