| The commodity and element markets are the premise and foundation to realize the goal of regional economy integration which has been considered as an indispensable part that accelerated the development of regional economy. Although there is no doubt that the ‘Jing-Jin-Ji’ region plays a vital role in the economic development of China, financial gap is also continuously expanding between internal participants. Therefore, the choice of coordinated development of regional economy will be provided as an inevitable solution for the sake of the ‘Jing-Jin-Ji’ region. It is crucial to analyze both the commodity market integration and coordinated development of regional economy in order to offer an advanced situation for the ‘Jing-Jin-Ji’ region.According to the analysis and summary of the previous literatures, this paper studies the ‘Jing-Jin-Ji’ region’s coordinated development of regional economy in terms of economic growth. The first part contains literature review and a theoretical discuss. Next, the measured level of the commodity market integration of the ‘Jing-Jin-Ji’ region by using the relative price law will be provided. The following part of this paper comes up with an empirical analysis that using the modified Barro growth equation to analyze the economic growth effect of the commodity market integration on the ‘Jing-Jin-Ji’ region. In addition, this paper includes a further study about the economic growth effect of commodity market integration in different cities which locate in the different level of development by considering the spatial effect of geographically weighted regression(GWR). Therefore, the relationship between the commodity market integration of the ‘Jing-Jin-Ji’ region and coordinated development of regional economy has been revealed by evaluating the data.The last conclusion part points out the relevant policy suggestions through all the analysis above.Through the theoretical research and empirical analysis of the commodity market integration and coordinated development of regional economy, the study conclusions are listed as follows:Firstly: The commodity market integrated level within the ‘Jing-Jin-Ji’ region fluctuates upward as a whole. From the point of internal, it can be seen that the level of the commodity market integration in the northern cities of Hebei province is higher than that of southern. Moreover, it shows that there is no direct linear relation between the commodity market integration and the economic growth.Secondly: It appears to a trend of inverted U from the effect of the commodity market integration in the terms of economic growth, which means that commodity market integration contributes to the economic development in a certain way at the present stage.Thirdly: From the result of the commodity market integration on coordinated development of regional economy. As different areas locate in different stages of development, It is not the same that the effect of the commodity market integration on coordinated development of regional economy. Only the area where Beijing and Tianjin locate in exists the economic convergence phenomenon, the whole ‘Jing-Jin-Ji’ region does not exist. Now it is incomplete favorable for the coordinated development of the whole ‘Jing-Jin-Ji’ region. |
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