| The paper probes deeply into how the public investment and human capital influence the economic catching-up behavior in Beibu Bay Economic Zone (BBEZ), so the public investment and human capital are divided into several types, such as scientific investment and educational investment. The paper, supported by the economic growth convergence theory and late-developing advantage theory, is to study whether there is economic growth speed chase in BBEZ, and deeply wants to confirm whether the economic growth speed in BBEZ can catch up others'. What's more, the paper calculates the regional TFP by DEA in order to estimate if there is catching-up behavior of economic growth quality in BBEZ, or the quality of economic growth in BBEZ can catch up others'The paper conveys that there are noσconvergence andβconvergence between BBEZ and Pearl River Delta (PRD). After the model brings in some variables such as public investment and human capital, it proves that the conditionalβconvergence does exist. In all kinds of public investments, only the soft-environment investment stimulates economic growth gratefully, while the hard-environment investment has no positive effect on it, so the economic growth in BBEZ can catch up PRD's. In all three types of human capital only the high-quality human capital positively promotes economic growth, the rapid economic growth in BBEZ benefit from accumulating the high-quality human capital. The high-quality human capital helps the poor zones to absorb more new technology and increases the ability for exchanging and recreating new technology, then it can accelerate the growth pace after gathering more physical capital. Two types of healthy human capital don't confirm the same conclusion, the healthy human capital based on the number of beds in hospital has positive effect on promoting economic growth, but the healthy human capital based on the quantity of doctors show a positive effect. The healthy human capital based on the number of beds in hospital should be increased which plays an important role in narrowing the economic gap between different economic zones. Meanwhile, the high quality human capital can help BBEZ absorb more foreign capital which is very important for economic growth, but not the middle-quality human capital. The foreign capital is apt to flow into these zones which accumulate more high quality human capital. Most kinds of the soft-environment investments have a positive role in attracting foreign capital, which conveys that the soft-environment is a vital factor for accelerating economic growth. The healthy human capital based on the quantity of beds in hospital is helpful for getting more foreign capital which actively narrows the gap of economic growth between BBEZ and PRD, but the human capital based on doctors'quantity doesn't gratefully stimulate economic growth in BBEZ.When the paper pays more attention to study the catch-up behavior of economic growth speed in BBEZ, it also founds that the catch-up behavior based onσconvergence theory andβconvergence theory doesn't exist, but the conditional convergence is presented to us. The scientific investment plays an important role in stimulating economic growth apparently, but not other kinds of public investments. All three types of human capital don't promote economic growth, so all cities in BBEZ need to increase the inputs to accumulate human capital. The healthy human capital has no significant influence on economic growth, but not when the paper choose the quantity of beds in hospital as tools for estimating the healthy human capital. Then the paper confirms both the educational human capital and the healthy human capital don't play a crucial role in putting foreign capital into effect. In all kinds of public investment, only the scientific investment have exerted a very important motive force in accumulating foreign capital and accelerating economic growth.At last, the paper analyses the catching-up behavior of the efficiency and quality of economic growth based on the calculation of the regional TFP by DEA, then it confirms that both the Coefficient of Variation and Hill coefficient are decreasing. In other words, the disparity of economic growth quality is disappearing constantly. The public investment and human capital do not contribute to economic convergence between BBEZ and others', so BBEZ has to accumulate more human capital and public investment which can accelerate the pace of chase. Meanwhile, both the scientific investment and educational investment contribute to economic convergence in BBEZ, but not human capital. So, all cities in BBEZ must constantly perfect infrastructure for economic growth and vigorously accumulate more human capital in order to increase the quality and efficiency of economic growth. |
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