Study On The Impact Of Opening-up On China's Regional Economy

Under the background of global economic integration,China,as the second largest economy in the world,has become an important choice in the national development strategy to deepen reform,expand opening up and build an open economic system.After 40 years of reform and opening-up,China's economic level and the degree of opening-up have been greatly improved.During this period,the eastern region took the lead in achieving "going out" by virtue of its geographical advantages and became "getting rich first",while the development of the central,western and northeastern regions was relatively lagging behind,which resulted in a kind of similar "center-outside" in China.The "coastal-inland" unbalanced development pattern of "encirclement" structure.Since the beginning of the 21 st century,although China has implemented such strategic measures as "West Development","Revitalizing the Old Industrial Base in Northeast China","Rising of the Central Region" to promote the level of backward regional economy,most of them have achieved little,and have not effectively restrained the expansion of such regional economic disparities.In 2017,the Nineteenth National Congress of the CPC once again highlighted the importance of regional coordination,and the excessive economic differences among regions are also a major problem that can not be avoided in the process of achieving regional coordinated development.Based on the contents and methods of other scholars' research on the relationship between opening-up and regional economy,this paper combs the main causes of regional economic disparities in China,and focuses on the analysis of the factors affecting the degree of opening-up.This paper uses theoretical deduction analysis and empirical test to conduct research and analysis.Empirical analysis takes the four regions of eastern,central,western and northeast as the empirical object,and establishes panel data of four regions from 1998 to 2017.Through the improved Cobb-Douglas production function,this paper builds relevant models to study the relationship between opening-up and regional economy,and to study the four regions.The time series data are used for impulse response analysis.The model takes GDP per capita of each region as the explanatory variable,and focuses on the impact of EO,capital stock(K)and labor force(L)on it.Based on empirical research,we find that: opening up can promote the level of regional economy,that is,the four regions are in line with the view of facilitation theory,and this facilitation effect is most obvious in the eastern region,the elasticity coefficient of opening up is 0.6282;in the western region is 0.5012;in the central region,it is 0.3891;in the Northeast region,it is the weakest,which is 0.2324.At the same time,the promotion of capital stock is the largest among the variables studied.The continuous progress of technology will lead to the correct guidance of the relative excess capital at the present stage in our country.Therefore,the accumulation of capital will continue to play a greater role in promoting regional economy.The promotion effect of labor force quantity is between capital stock and openness.Although the demographic dividend of our country is gradually disappearing,the industrial transfer from eastern region to central,western and northeastern region has brought a new round of labor resource reflux,which can optimize the human capital structure of each region to a certain extent and promote the whole.Enhancement of China's economic level.But on the other hand,the opening-up of different regions has different effects on regional economy: both eastern and central regions have direct effects on regional economy and indirect effects on regional economy by influencing capital stock,while the opening-up of western regions has negative effects on GDP and capital stock shocks,but its opening-up degree is negatively related to GDP shocks and capital stock shocks.The impact on the number of labor force has a continuous positive response.The opening degree of Northeast China has an unstable role in regional economy,and its impact on regional economy is mainly transmitted through the capital stock.According to the conclusion of this study,the paper puts forward suggestions from the characteristics of the four regions: the four regions should improve the quality,quantity,structure and concept of foreign trade and FDI respectively to form a nationwide all-round opening pattern and promote coordinated development among regions.