A Study On The Measurement Of Border Effect Of The Capital Market And Labor Marhet And Its Characteristics Based On Provincial Data

Breaking the administrative border effect is the only way to achieve market integration,a large number of market integration research results show that,due to the prevalence of administrative region economy in our country,border effect has seriously hindered China's market integration.Since the 1990 s,China's market integration has been significantly improved,product market integration has made important progress,but the level of integration of the factor market is still relatively low,the unity of the domestic factor market has not yet formed.The unbalanced development of the factor market and the product market,and the lagging development of the factor market,seriously hampered the sustained and healthy development of China's economy.Based on the review of the latest research results on border effect of domestic and foreign,through discussing the border effect of the capital market and the labor market separately,to study the integration of the factors market in China.This paper uses the fixed asset investment price index and average wage index of 30 provinces,municipalities and autonomous regions in China from 1995 to 2014,based on the theory of one price,calculate the variance index of capital market and labor market in30 provinces and autonomous regions.The variance index was used as the border effect value to further study.The results show that,from the time point of view,the border effect of the national capital market and the labor market as a whole generally lower;from the spatial point of view,the national capital market and the labor marketborder effects in the spatial distribution of a clear positive correlation,and shows high-high and low-low agglomeration.Therefore,comprehensive capital market and labor market,the border effect of the national factor market has been declining in the past 20 years,and the cluster effect has been shown in spatial distribution.