Evaluation Of The Economic Development Efficiency Of The Guangdong-Hong Kong-Macao Greater Bay Area

At present,China's regional economic growth mode will shift from relying on factor input growth to relying on economic development efficiency growth.Therefore,it is particularly urgent and important to pay attention to the efficiency issue in China's regional economic growth.The Guangdong-Hong Kong-Macao Greater Bay Area is an important economic development region in China.Its regional economic growth process not only faces the common problems of regional economic transformation and upgrading and institutional reforms,but also faces some special difficulties.This article takes " Evaluation of the Economic Development Efficiency of the Guangdong-Hong Kong-Macao Greater Bay Area " as the selected topic,which based on combing and commenting on relevant literature and theories uses the DEA-Malmquist model to do empirical analysis from the perspective of overall evolution and regional differences,thus revealing the main problems faced by the region's long-term sustained economic growth.From the analysis of empirical results,the main problems are as follows.First,the dividends of past institutional reforms have gradually weakened in recent years.Existing institutional mechanisms have a significant constraint on management capacity and accumulation of production experience,which also limits organizations and institutions of innovation.Second,the restricted market mechanism has caused a loss of factor use efficiency,while regional market barriers have reduced factor liquidity and limited the further acquisition of economies of scale,resulting in an embarrassing situation where factor congestion and scarcity coexist between regions.Third,in the long run,the persistent accumulation of systemic diseases and unbalanced factor structures will continue to lead to loss of allocation efficiency.This lag in organization and system and the vulnerability of production management capabilities will hinder economic growth and cause the lack of a strong source of funding for technological innovation,which will further negatively affect economic growth.