| Establishing a unified and open market economy system is one of the important objectives of China's economic transition.With the development of economy,the emergence and increase of domestic regional market integration has become an important phenomenon.At the same time,since the reform and opening up,Guangdong,Hong Kong and Macao have been one of the most active areas in China's economic development.How to plan and build the Guangdong-Hong Kong-Marco Greater Bay Area into a world-class Bay Area has risen to the level of national strategy.Nowadays,in the international competitive environment with the urban agglomeration and the bay area as the carrier,on the one hand,other regions in China are promoting the regional competitive advantage through promoting regional integration.On the other hand,in the implementation of the " the Belt and Road " strategy,the integration of regional markets is an important focus of the new opportunities and challenges in the Guangdong-Hong Kong-Marco Greater Bay Area.In this situation,it is worth discussing how the market integration of Guangdong-Hong Kong-Marco Greater Bay Area develops,and what role the particularity of Hong Kong and Macao plays in the market integration.Based on this,this paper uses the economic statistics from 2000 to 2015,uses the relative price method to quantitatively analyze the level of market integration in Guangdong-Hong Kong-Marco Greater Bay Area,and then uses the geographically and temporally weighted regression model to explore the spatial and temporal variation of the economic growth effect of market integration.Specific research work is divided into two steps: the first step is theoretical research.Through reading the relevant literature,first of all,carding and summarizing the measurement methods of market integration and the research status of the economic effects of market integration,so as to determine the measurement methods of market integration,construct effective indicators of market integration,and deeply analyze the internal laws and specific mechanisms of market integration affecting economic growth.Then,combining economic theory to determine the general theoretical model.The second step is empirical research.Based on the recent macroeconomic data of Guangdong,Hong Kong and Macao,this paper constructs the index of market integration through the commodity retail price index,and then uses this index to complete the empirical analysis of the economic effects of market integration in Guangdong-Hong Kong-Marco Greater Bay Area.The empirical results show that:(1)the overall level of market integration in Guangdong-Hong Kong-Marco Greater Bay Area shows an upward trend,but its fluctuations are large;(2)regional market integration has significantly promoted the economic development of the bay area;(3)there is a significant spatial correlation in the economic growth of the bay area,which is endogenous in the stochastic perturbation item;(4)there are obvious spatial and temporal differences in the economic effects of regional market integration.In terms of space,the role of market integration in promoting urban economic development of different economic scales has obvious spatial distribution differences;in terms of time,the role of market integration in regional economic growth has gradually changed from negative to positive and more significant. |
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