The Convergence Of Regional Economic Growth In China

Study on the economic growth is a classical, fashionable and questionable area. Convergence is one of key topics in the economic growth theory. It means that the difference of income across countries or regions becomes smaller and smaller with the elapsing of time.Since the open-door economic reforms, Chinese economics have realized rapid growth at whole up. At the same time, the difference of growth among the regions has attracted many economists'extensive concern. The interpretation of economics growth with time and the difference of the regions are hot areas in the economic growth theory. If we do the research from the angle of a complex system, we can understand the mechanism of the economic growth better. As to the differences of regional economy in China, different methods lead to different conclusions, which have caused a lot of discussion among researchers.In this paper, based on the hypothesis of convergence, we begin to study the mechanism ofσconvergence of Chinese three regions by standard deviation and coefficient of variation with the data of per capita GDP. Secondly, on base of the theory of new classic economic growth, we analyze the mechanism of convergence on Chinese economic growth with the Solow's models. In order to get better conclusion, the panel data and several approaches are used to estimate the models. The best estimation model is used as the beginning point to explain the Chinese economic convergence. Moreover, the convergence in the east, middle and west region in China is investigated respectively. By the Dowrick and Roger's models, it is possible to inspect the convergence both in the framework of new classic and the new economic growth theory. Finally, some suggestions on Chinese economic growth are proposed according to the mechanism and characteristic of convergence in the Chinese economic growth.