Spatial Economic Analysis Of Sustained Economic Growth In The Western Region

After the implementation of the western development strategy, the infrastructure ofthe west has improved tremendously. It’s economy has developed quickly andsustainably. The ratio of GDP per capita of the east to the west has changed from1:2.5in1999to1:2.2in2013. Although the overall gap has reduced, the absolute gapbetween the two areas is still widening, some problems remain to be solved, such asirrational economic structure, weak self-development and sustainable development. Ina new phase, looking back on the effect of the western development strategy, it hasn’tchanged its Laggard Status radically in competitive market. To further theimplementation of western development strategy, we should change the strategicthinking of improving the regional economic development and level simply byincreasing the quantity of materials in the laggard regions, improve the economic rightsendowments, improve the regional self-development, expand regional developmentspace, increase its transition from a follower to a leader in economic development. Onlyin this way, we can truly realize the sustainable development of the west, reduce the gapof regional development and boost the overall level of economic and socialdevelopment of our country.This thesis is based on the perspective of economic rights endowments and carryout the spatial economic model to analyze the sustainable development of the westerneconomy. It will adopt provincial panel data, incorporate economic rights endowmentinto analytical framework of natural resource endowment and regional economicdevelopment by structuring the spatial econometric model, then analyze the factorsinfluencing the sustainable economic development of western regions. The researchshows that regional economy in China reveals clear spatial correlation characteristics.Thus we can’t ignore natural resource endowment, geographical location and economicrights endowment while trying to figure out the factors influencing sustainableeconomic development of the West. The regional economic development will beinfluenced by that of the neighboring areas, that is, it will have a spillover effect onneighboring areas. Among economic rights endowment, material capital rights andlabor use rights are in an distinct positive correlation to the regional economicdevelopment and has a quite strong effect. Human capital rights have a negativecorrelation to the regional economic development, but not that distinct, which implies the inhibition effect of human capital in some regions which is caused by thedifferences of each region in obtaining human capital. There is a distinct positivecorrelation between institutional change rights and regional economic development,while the positive correlation between technological advancement rights and regionaleconomic development isn’t very distinct, which, to some extent, reflects that the effectof technological innovations on the accessibility of all factors and capacity of resourcedistribution hasn’t displayed truly. In the end, based on the above-mentioned analysisand research, from the perspective of economic rights endowment, this essay offerssuggestions for the sustainable economic development of the West. They include factorcapitalization of resource integration, the increase and formation of factor collection,hinterland radiation of economic circle expansion, and innovation acceleration ofcontinuous technological advancement.