| With the deepening of China's reform and opening up,FDI has grown in scale in China.FDI would have a certain impact on the local economy.The relationship between FDI and economic growth has also become the focus of many scholars.However,the large influx of FDI not only influences economic development,but also affects a little on the local employment structure,industrial layout,living standard and ecological environment.All these aspects are indispensable part of social development.Therefore,if we only pay attention to the contribution of the FDI inflow to economic growth,it cannot satisfy the current social development.We need to pay more attention to the social effect which was brought by the FDI inflow,in other words,we should focus on the social development level which was impacted by the FDI influx.As a result,this paper will focus on the relationship between the scale of FDI and the level of social development,and fully excavate and utilize the positive effect of FDI to promote the level of regional social development.It is a good choice to select the area which is located in the hinterland of the Pearl River Delta,adjacent to Hong Kong and Macao and ASEAN.At the same time,The Belt and Road support the construction of Pearl River--WestRiver Economic Belt.In2014,the National Development and Reform Commission issued the “Pearl River--West River Economic Belt Development Plan”,and the Pearl River-West River Economic Belt has officially risen as a national strategy.The above facts indicate that it will be the main inflow area of FDI in the future.Therefore,it is great significance to explore the relationship between the Pearl River-West River Economic Belt and the FDI,to reduce the gap between the developed regions and the underdeveloped areas.As a result,this would improve the overall social development level in the region.The main contents of this article follow: based on the theoretical analysis of the relationship between FDI and social development level,this paper summarizes the existing literature on the relationship between FDI and social development,finding that the role direction of FDI is not consistent to social development,the joint force direction of FDI determines the direction of the social development.Based on the above findings,firstly,this paper utilizes the social development level ofPearl River-West River Economic Belt,choosing the evaluation index ofthe social development level;Secondly,using the principal component analysis method to acquire the comprehensive score of the economic belt;Thirdly,using the data of the Pearl RiverWest River Economic Belt from 1992 to 2016,an empirical analysis was made of the relationship between the comprehensive score of social development level and the actual utilization of FDI.The vector error correction model(VEC model)is established on the basis of stability test and the co-integration test,to analyze the long-term equilibrium and short-term dynamic relationship between social development level and FDI in this area.The theoretical analysis of this paper believes thatthere is a long-term positive correlation between the FDI and the social development level in Pearl River –West River Economic Belt,at the same time,the promoting effect of FDI on the level of social development has short-term lag.The reason for this short-term lag is that the FDI does not affect the level of social development directly,but also plays a role by the impact of various subsystems on the level of social development.The empirical results further prove that the long-term co-integration relationship between the social development level of the Pearl River-West Economic Belt and FDI is realized in the dynamic adjustment of short-term fluctuations,and that FDI has a stronger role in promoting the level of social development.Based on the research,this paper proposes relevant policies to achieve the purpose of using FDI to promote the social development level of the Pearl River--West River Economic Belt. |
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