An Analysis On Convergence Of China's Regional Economic Growth: From The Perspective Of Factor Quality And Factor Structure

The difference of factor development and economic growth in different regions of China is protruding,and it is important to identify and investigate the convergence and divergence of China's regional economic growth.The frontier study investigated the influence of economic growth convergence from the angle of factor development,mainly from the quantity of factor input and its structure,ignoring the influence of the change of factor quality and its structure in different periods,especially the influence of the change of factor structure on economic growth and its convergence.This paper focuses on this and studies the convergence and divergence of regional economic growth from the angle of factor quality and factor structure.First,based on the research scope of capital and labor factor quality and their internal input structure,this paper constructs the capital quality index to measure the quality of capital by using the classified capital goods price index,estimates the labor quality by the average education years of the labor force,estimates the capital stock of equipment and construction and measures the capital structure by its relative,distinguishes between skilled labor and unskilled labor and measures the labor structure by its relative.And then to construct the relative index of capital quality,labor quality,capital structure and labor structure in 30 provinces and autonomous regions of China in 2001-2016,and analyze its temporal change and regional variation characteristics.Secondly,this paper examines the trend of convergence and divergence of regional economic growth in China.The empirical results show that since the reform and opening-up,there is no trend of ? convergence and absolute ? convergence in regional economic growth in China,but it has the characteristics of phase convergence,and it has obvious trend of absolute ? Convergence and club convergence in 2001-2016.By introducing the investment rate of fixed assets,population growth rate,government behavior,opening degree,industrialization degree and transportation infrastructure as control variables,this paper uses two-way fixed effect panel data model and the spatial lag model of space and time fixed effect.The regression results on the ?-convergence test of China's regional economic growth conditions show that there are significant conditions ? convergence trend in China's regional economic growth in 2001-2016.Finally,based on the ?-convergence analysis framework of Barro and Sala-imartin,the effects of factor quality and factor structure on the regional economic growth and its convergence are examined by using two-way fixed effect panel data model and the spatial lag model of space and time fixed effect.The regression results show that the capital quality and the improvement of labor quality and labor quality can effectively promote regional economic growth and convergence,and the change of labor structure has no significant influence on regional economic growth and convergence.Therefore,when we pay attention to the role of factor quantity to economic growth,we should pay attention to the effect of the improvement of capital quality,capital structure and labor quality on regional economic growth and its convergence,so as to promote the balanced development of regional economic growth in China.