The Research On The Driving Force Of Economic Growth In Guangdong,Hong Kong And Macau Bay Area

The Bay Area economy is a brand-new area of current social development research and has gradually become a hot topic of concern to all parties.In 2017,the development plan for the Guangdong,Hong Kong and Macau Bay Area was formally announced,marking a new stage in the development of Guangdong,Hong Kong and Macau Bay Area.However,there are few studies on the economic growth and development of Guangdong,Hong Kong,and Macao Bay areas.Therefore,the study on the driving forces of urban economic growth in the Guangdong,Hong Kong,and Macao Bay areas will not only help us to better understand the Bay Area and understand the development characteristics of the Bay Area.It can also provide us with some important theoretical support in the construction of the Bay Area and be a good platform for the development of the “One Belt and One Road” initiative.This article takes the economic growth driving forces of Guangdong,Hong Kong,and Macao Bay area as the research object,in order to obtain the specific elements of the overall urban and individual economic growth of Guangdong,Hong Kong,and Macao Bay Area.This article first elaborates the background and significance of the study,and summarizes the research on the Bay Area economy by a number of scholars at home and abroad.It then sorts out some views on economic growth and summarizes the most basic and representative theories.On this basis,combining domestic and foreign scholars' research,the main drivers of economic growth are analyzed.Finally,based on the basic situation of Guangdong,Hong Kong and Macao Bay Area,the basic situation of economic development in Guangdong,Hong Kong and Macao Bay Area was analyzed from the aspects of population,economic opening level,infrastructure construction,innovation investment level,and industrial structure changes.The panel data model was used to empirically analyze the driving forces of economic growth in Guangdong,Hong Kong,and Macao Bay Area and the differences in driving forces between regions.The conclusions obtained were as follows:1.The employment population and innovation input are the most important driving forces for economic growth in the Bay Area of Guangdong,Hong Kong,and Macao in recent years.In addition,the increase in foreign direct investment,highway network density,and the proportion of the tertiary industry has all contributed to the development of the economy to a certain extent.Port container throughput is negatively related to economic growth.2.The economic development situation among the cities within the Guangdong,Hong Kong,and Macao Bay Area is quite different.This difference is reflected not only in the basic data but also in the driving force factors of economic growth.In terms of overall economic development level,Hong Kong,Guangzhou and Shenzhen are far ahead of other cities.In terms of driving force,the driving force of Shenzhen's economic growth mainly comes from the input of innovation.The driving force of Guangzhou's economic growth mainly comes from the port.The rapid development and so on.Finally,based on the results of the analysis,this paper proposes policy recommendations for the construction of the Bay Area of Guangdong,Hong Kong and Macau from various aspects.On the whole,we must fully grasp the main driving forces of economic growth,increase investment in innovation,and maintain a higher level of openness in the world.At the same time,we must also take into account the differences between each region and give different regions.Develop positioning to avoid excessive homogeneity competition.