A Study On Economic Openness And Its Influencing Factors In Guangdong-Hong Kong-Macao Greater Bay Area

In the “One Belt,One Road” vision and action and the “13th Five-Year Plan”,the concept of the Bay Area rose to the national strategic level for the first time,and focused on the integration of Hong Kong and Macao and the Pearl River Delta region,and proposed the development of the Guangdong-Hong Kong-Macao Greater Bay Area.Building a world-class bay area will lead China's new round of opening up.The construction of the The Guangdong-Hong Kong-Macao Greater Bay Area is not only a solution to the deepening of cooperation between The Guangdong-Hong Kong-Macao Greater Bay Area,but also the integration of Hong Kong and Macao into the national development plan.Building the Guangdong-Hong Kong-Macao Greater Bay Area with "open cooperation,mutual benefit and win-win" as the basic consensus is conducive to establishing an open economic system that is in line with international standards,and building a higher level of development economy through the advantages demonstrated by the economic development of the Bay Area.Regional participation in international economic cooperation and competition.Under such a realistic background,studying the economic opening level of The Guangdong-Hong Kong-Macao Greater Bay Area and the factors affecting economic opening can provide corresponding assistance for further optimizing the development pattern of Guangdong-Hong Kong-Macao Greater Bay Area.Based on previous research and historical data,the research in this paper selects the main dimensions of the four aspects of economic openness,namely,trade openness,investment openness,tourism openness and financial openness,2000-2017.During the years,the economic opening of different areas of Guangdong-Hong Kong-Macao Greater Bay Area was studied,and the comprehensive economic openness of Guangdong-Hong Kong-Macao Greater Bay Area's was measured by principal component analysis.In order to more intuitively express the economic opening of Guangdong-Hong Kong-Macao Greater Bay Area.Level,based on data availability and completeness,selected the Hangzhou Bay and the Beijing-Tianjin-Wing urban agglomeration as a reference comparison,and finally ranked the economic openness of the cities within the Guangdong-Hong Kong-Macao Greater Bay Area.On this basis,the influencing factors to be studied are selected according to the level of division of labor and transaction efficiency,and the important factors affecting the economic openness of The Guangdong-Hong Kong-Macao Greater Bay Area are analyzed.The empirical results show that:(1)The level of economic development has a significant role in promoting the economic openness of The Guangdong-Hong Kong-Macao Greater Bay Area;(2)The more complete the transportation infrastructure,the higher the convenience,the economic opening level of The Guangdong-Hong Kong-Macao Greater Bay Area(3)The improvement of human capital level can promote the economic openness of of The Guangdong-Hong Kong-Macao Greater Bay Area;(4)The higher the level of marketization,the higher the efficiency of resource allocation,and the quality of regional institutions,ensuring the allocation The effectiveness of resources,that is,the level of regional marketization and the quality of the system will significantly promote the economic openness of Guangdong,Hong Kong and Macau.Based on the research conclusions,this paper proposes relevant policy implications for the economic development of Guangdong-Hong Kong-Macao Greater Bay Area.