Analysis About The Phenomenon Of "Club-Convergence" In Coastal Opening Areas In China

Under the background of economic globalization,the hypothesis of convergence of economic growth has been analyzed with a lot of cases in different countries and areas,but the hypothesis had not been confirmed because of the complexity and diversity of the real world,so that the technological way of the hypothesis has been doubted.However,the unique charm of convergence of economic growth attracts more and more economist to study it broadly and delicately.The hotspot of economic growth theories is how to interpret regional disparities.Since the introduction of Reform and Open-up Policy,Fujian economy has achieved great development at an unprecedented speed.Meanwhile,the regional disparities have absorbed many economists' extensive concern.The dissertation aims to apply a set of econometric models to examine the growth convergence over the sample period and to explain the performance and mechanism of Fujian economic growth from the Neoclassical Economic Growth Theory.The main conclusions are as follows:First,Fujian Province has seen absoluteβ-convergence during the period of 1978-1990.Second,there is club-convergence during 1990-2006,that is,there esist two convergence clubs:the "developed club" made up of Fuzhou,Xiamen & Quanzhou,and the other club called "developing club" composed of other six cities in Fujian province.The existence of club-convergence has two meanings:Firstly,there is absoluteβ-convergence within the two clubs respectively.Secondly,there is no convergence between the two clubs,that is,the poor become poorer and the rich become richer,the economic gap between them is widening,which we are unwilling to see.Furthermore,the dissertation sets an examination on the sources of regional disparities in Fujian. Empirical estimates show that the investment,human capital,urbanization,industrialization and the scale of government contribute to the phenomenon of club-convergence.Then,the dissertation raises some suggestions on the basis of mechanism of club-convergence to deal with the problem of regional disparity.Finally,The research results are summarized,conclusions are made,and suggestions for future study are proposed.