Research On The Development Level Of Shandong Province Based On Panel Data Spatial Econometric Model

Regional economic differences are a social and economic objective phenomenon.Moderate differences are conducive to promoting the rational allocation of resources and the spatial transfer of industries.However,excessive differences hinder regional economic development and endanger social stability.Since the reform and opening up,the economy is in rapid development.The phenomenon of regional economic differences has become increasingly obvious.A series of problems caused by regional economic differences have directly or indirectly aroused widespread concern in China.Many scholars have studied regional differences from national,provincial,and county scales.About the selection of indicators,most researchers only use GDP index to reflect regional economic differences.The research on regional economic differences at different spatial scales has some shortcomings.Most of the research methods use traditional coefficient to reveal the regional economic differences.The spatial panel data model is applied to the regional economic field of Shandong Province.In order to reflect the regional economic development of cities in Shandong Province,this paper adopts a multi-indicator comprehensive analysis method called principal component analysis for the economic level of each city by selecting 11 economic indicators related to the economic level of Shandong Province.This paper comprehensively tests different spatial panel data models such as SAR,SEM,SDM and SAR models.It selects a suitable spatial panel data model for the regional economic development of 17 cities in Shandong Province.The model finds out the positive and negative factors to the economy.This paper firstly adopts multi-indicator comprehensive analysis method to obtain the overall level of economic development in different cities in Shandong Province.Secondly,it investigates the spatial correlation of regional economic development in Shandong Province through global spatial autocorrelation and local spatial autocorrelation analysis.Finally,by testing the different spatial panel model,it shows that the appropriate spatial Durbin panel model is the most suitable one.By analyzing Durbin panel model,the paper finds out the interrelationship between various factors affecting regional economic development.