Research On The Interactive Development Of Port Economy And Hinterland Economy

With the rapid development of global economic integration and deepening of international trade, ports and ports’economic hinterlands are playing an increasingly important role in the regional development of economy and trade. Rizhao-Port as one of China’s major ports along the coast, its development has become an important driving force for the city of Rizhao and even the hinterland-Lunan economic zone. With the introduction and implementation of the "Shandong Peninsula Blue Economic Zone Development Plan" as well as the establishment of "along the way" offshore development strategy, the role of Rizhao-Port in the economic development of Shandong Province and even the whole country will be further improved. As an important sea port of Lunan region, Rizhao-Port must take the mission to achieve the goal of Lunan economic revitalization in order to coordinate the economic development of Shandong province. In such background of current development, it will undoubtedly have a very profound theoretical and practical significance in the in-depth study of the interactive development of Rizhao-Port with its economic hinterland.Firstly, summarizing related literature from different angles, then the paper defines the concept of port economy and hinterland economy, explores the mechanism of interactive development of port with its economic hinterland, analyzes the economic effects which are led by port and economic hinterland. Typical examples of foreign ports’development experience are listed to provide theoretical experience as well as bring useful inspirations for the development of Rizhao-Port.Secondly, the paper uses cointegration theory, Granger causality test and impulse response analysis methods to take an empirical test on the interaction between the improvement level of Rizhao-Port and hinterland economy development. The empirical result shows that:in the long run, there is a close connection between the improvement of Rizhao-Port and economic growth in the hinterland. The improvement of Rizhao-Port is the cause of its hinterland economy development; and the development of hinterland economy is not the cause of Rizhao-Port’s improvement, but the function is strengthening gradually.Finally, in order to improve the current level of Rizhao-Port better and faster, corresponding countermeasures and suggestions are taken to develop the port container business to achieve economies of scale benefits; make efforts to port financing, widen harbor financing channels; develop the port logistics to raise awareness and capacity of port services; strengthen port industrial development, promote regional economic growth; expand port economic hinterland to achieve optimal allocation of resources; establish competition and cooperation relationship between ports, promote the division of labor and cooperation between neighboring ports, then achieve win-win development.