Research On The Effect Of Regional Integration Policies On Residents' Income Gap And Their Sense Of Economic Gain

As China completes the building of a well-off society in an all-round way,a new journey of building a modern socialist country in an all-round way has begun.Adhering to the goal of common prosperity in high-quality development will be a good way to resolve the contradiction between the people's ever-growing needs for a better life and inadequate development.And that is also the best choice for China to achieve the the second centenary goal and modernization.Common prosperity is comprehensive prosperity in both material life and spiritual life.Prosperity in material life is the objective basis for achieving common prosperity,which focuses on overcoming imbalances such as regional disparities,urban-rural gaps.Common prosperity at the spiritual level requires the people effectively enhance their subjective well-being.It is an important way to achieve common prosperity for the country to adjust the governance method at the regional level,adhere to the concept of shared development,efficiently promote the process of regional integration,and at the same time realize the convergence of income gap and the improvement of residents' subjective economic well-being.Achieving common prosperity through regional integration strategies under the concept of shared development requires us to pay attention to regional disparities at the objective level,but also to reduce the psychological imbalance between residents in developed and developing areas,and reduce high psychological gap between income and low-income groups.However,most of the existing literatures alway focused on the regional integration policies effects on income inequality at the objective level so that there is a lack of relevant literature focusing on the policy effects on the subjective feelings.This paper evaluates the policy effects of regional integration policies from both objective and subjective levels.Our assessment of regional integration policy performance is more comprehensive.At the same time,this paper overcomes the limitation that the existing research uses the overall regional integration policy as a dummy variable,goes deep into the policy content itself,and examines the differential effects of different policy measures.Comprehensively and scientifically grasp the implementation effect of the integration policy,clarify the advantages and limitations of the existing regional integration policy measures,and provide theoretical support for the further improvement and optimization of the existing policy system.This paper uses Python software to conduct text mining and quantitative analysis of the policy texts of the Pan-Pearl River Delta region from the year 2003 to 2018.Based on the themes of the policy texts,the policy texts are analyzed from four types:transportation interconnection,weakening of administrative barriers,economic and trade industry cooperation and labor market integration.This paper divide the policy texts into four types,and then use the policy index evaluation model including policy measures,policy objectives,policy feedback and policy strength to construct the four policy measures index which is fully tested for robustness.Then,it studies the policy effect and mechanism of regional integration policy on the income inequality of regional residents at the objective level and the residents' subjective economic wellbeing.The research conclusions are as follows:Firstly,from an objective point of view,the regional integration policy can narrow the income inequality of regional residents,and this conclusion is valid under various robustness tests.The policy effects of regional integration policies are heterogeneous in different stages and regions.Only when policy measures to promote the flow of factors and industrial transfer are implemented at the same time,the income inequality of regional residents can tend to converge.The regions closer to the industrial transfer place have the more obvious the convergence effect.it is also found that administrative policy measures are the main measure to narrow the income inequality of regional residents by guiding capital to spread to less developed areas.Secondly,from a subjective perspective,the regional integration policies can significantly improve residents' economic wellbeing,of which administrative policy measures have the most obvious effect.The heterogeneous research finds that the regional integration policy is more conducive to improving the economic wellbeing people with lower education level.The regional integration policies have a greater effect on improving the economic wellbeing of residents in small cities and it is more conducive to low-income groups economic wellbeing.The labor policy can significantly improve residents' subjective economic wellbeing by increasing the probability of residents' employment,residents' income levels,and the residents' social security quality.The income increasing can greatly enhance the residents' subjective economic wellbeing.The improvement of residents' economic wellbeing in rural areas depends on the improvement of their employment and income levels by administrative policy measures and transportation policy measures.The subjective economic wellbeing of small cities residences mainly relies on the improvement of their income level by administrative policy measures.The main contribution of this paper is to use the quantitative analysis method of the text,go deep into the policy content,classify and quantify each specific policy measure to obtain the policy measure index,and use the objective level of regional residents' income inequality and the subjective economic wellbeing as the evaluation index of policy performance.This can measure the implementation effect of regional integration policy effects more comprehensively,which can provide a theoretical basis for China to further optimize the allocation of existing regional integration policies.