A Research On Spatial Dependence And Economic Growth In Guangdong

Since the new century,it’s increasingly obvious that the world economy presents economic globalization and regional economic integration tendency.With the heightened level of economic openness and interdependence in regions, economic status of Guangdong as the largest province in economy in China for twenty years has been subjected to a challenge. Thus,research on how to achieve better-balanced and long-term regional economic growth has aroused the concern of scholars.Spatial dependence is an important condition for long-term economic growth in Guangdong. On the basis of Neo-classical growth theory, New Growth Theory, New Economic Geography Theory and Spacial Economy Theory,this paper firstly explores the spatial distribution characteristics of regional economy in Guangdong, then performs tests on spatial dependence. Taking full account of the synergistic effects of multiple factors on economic growth in Guangdong, this paper constructs the Spatial Panel Durbin Model to explore the relationship between spatial dependence and economic growth from 2005 to 2012.We find that there exists the accumulating trend of H-H and L-L, faster growth in the coastal city and overall growth in clumps from the perspective of spatial distribution. Meanwhile, there is a strong correlation and spatial dependence between economic growth of cities. There are two reasons for this phenomenon: one is technology spillover and spatial dependence between factors of production and knowledge factor, the other is aggregation effect and demonstration effect of the economy. Our empirical analysis comes to the following conclusions: Stock of physical capital, quantity of labour force, highway mileage and trade exports have significant influence on regional economic growth and negative spatial spillover effects on neighborhood. While, urbanization level makes the greatest contribution to regional and surrounding areas’ economic growth. Moreover, total effect of stock of physical capital, highway mileage and trade exports is significant. In the end, it is proposed that raising the level of trade exports and urbanization plays a positive role on balanced and coordinated development and long-term growth in Guangdong.