| Economic growth reflects the extent of national economic growth and the speed of development compared with the previous year. It is the first premise that related to political stability and social progress of a national, but also the people to live and work in peace. Over these years, the research of modern economy has always been a hot topic. After 30 years of reform and opening up, China’s economy has become the world’s second-largest economy. However, China is faced a series of problems such as demographic dividend disappears, the pressure on resources and environment, social contradictions and so on. China’s economy has entered a development stage of the new normal which is both opportunity and challenge. On the one hand, The effect of macroeconomic policies gradually reduce, for example the monetary policy, credit policy and fiscal policy. China’s economy is in the "L" growth,and facing severe challenges, China has a lot of pressure in the realization of steady growth; On the other hand, with the rapid development in the past few decades, China has accumulated rich material and human capital and has a certain degree of urbanization and marketization level. Now, a series of reform measures being implemented, all of these will become the new momentum of China’s economic growth. So, study the motivation factors of economic growth to meet the challenges and seize the opportunity has important significance, especially in promoting China’s economic system reform, economic structure transformation and balancing the development of regional economy.Through the effective integration of the economic growth, social embedded and multilevel statistical model theory, this paper constructs the model of multilevel growth theory based on embedded perspective which solves the problem of the effect path of the factors affecting economic growth, as well as the precision influence of social embedded variables on economic growth. Based on the panel data of Chinese provincial in 1996-2013, the paper empirically analyses the economic growth of Pan-Pearl River Delta Region based on the embedded perspective. The results showed:Overall the differences in economic growth, 75.12% of the share is caused by social embedding of economic growth. Capital stock, human capital and production value structure are positive significant direct impact factors. Fiscal expenditure scale and personal evaluation of environmental protection and economic growth are negative significant direct impact factors. In addition, the influence of the capital stock and human capital on economic growth are regulated by embedding variables respectively.Foreign dependency has a negative adjusting role on the positive relationship between capital and economic growth. Urbanization rate can improve the efficiency of economic growth by promoting the material capital accumulation. Baidu index of economic growth and foreign dependency can significantly adjust the positive relationship between human capital and economic growth. Due to the shortage of the current level of urbanization, urban cultural embedding variable urbanization rate is not conducive to promoting effect of human capital on economic growth. Therefore,to increase economic growth, we should consider both the basic elements and social embedded factors. |
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