A Study On Economic Opening-up And Its Effect On The Economy Of Guangdong

China is approaching the 40 th anniversary of the opening-up and it has gained great economic achievement since reform and opening-up.In recent years,China has made conclusions and forecasts for the opening-up issue against a new international background.As one of the most significant opening-up provinces in China,Guangdong has gained great attention from the country in the aspect of economic opening-up construction.The economy of Guangdong has improved steadily during the past 20 years with a average grow rate of 14%,in which the economic opening-up has contributed a lot.Therefore,in order to deploy the economic opening-up strategies for Guangdong against a new era,the past economic opening-up degree of Guangdong and its effect on the economy should be known and concluded,which is a new starting point for further opening-up.In this paper,six indexes,including trade opening-up,investment opening-up,production opening-up,technology opening-up,tourism opening-up and finance opening-up are used to research the different aspects of economic opening-up status of Guangdong during 1995 and 2015 while factor analysis is applied to quantify the overall economic opening-up.Moreover,a modified C-D production function in which opening-up is considered as an impulse is applied to study the effect of overall economic opening-up on the economic growth of Guangdong.We find out that during 1995 and 2015,trade opening-up and production opening-up were declining after rising.However,tourism opening-up and investment opening-up presented a downward trend while technology opening-up and finance opening-up were going upward.Overall economic opening-up presented a parabolic shape.Compared with the China,the indexes above of Guangdong were all higher than those of China.With respect to the empirical study,a positive effect of overall economic opening-up on economic growth are found.Eventually,this paper proposes relevant strategic suggestions for the open-economy construction of Guangdong based on the findings above.