Research On The Development Of Private Economy And Its Impact On China’s Regional Economic Growth

The private economy is a unique economic form under China’s socialist market economy system and an important part of the national economy.In recent years,the private economy has accounted for an increasing proportion of the total national economy,and its contribution to social and economic development has also increased.It has played an important role in absorbing employment,increasing taxes,promoting technological innovation,and promoting sustainable economic development.The private economy is an important force for maintaining social stability and promoting social progress.However,due to regional differences in the economic base,human capital,and institutional mechanisms,the level of private economic development and its impact on regional economic growth must also have some imbalance.Analyzing the impact of private economic development on China’s regional economic growth and revealing its spatial distribution characteristics are of great significance for optimizing regional private economic development and achieving coordinated and sustainable development of regional economy.This article firstly draws on the relevant domestic and foreign research results,and on the basis of rationally defining the connotation of the private economy and economic growth,reflects the regional private enterprises from five aspects of economic growth,labor employment,tax contribution,sustainable development,and technological innovation.The economic development level evaluation index system adopts the improved entropy method to measure the regional private economy index,and dynamically analyzes and horizontally compares the development level of the private economy in 31 provinces and municipalities in China from 2009 to 2016.Cluster analysis of the development level and various influencing factors;secondly,the spatial econometric analysis method is used to test the spatial agglomeration effect of the regional economy and the private economy,and the spatial Dubin model is established to measure and analyze the direct and indirect effects of private economic development on regional economic growth Effects;Finally,based on empirical results,targeted policy recommendations are made to promote the coordinated development of private economy and regional economy in various regions.The main research conclusions of this paper are as follows: Firstly,economic output capacity,employment absorption capacity,sustainable development capacity,tax contribution capacity,and technological innovation capacity are the main indicators that reflect the degree of regional private economic development;secondly,the private economic index can be reflecting the comprehensive level of regional private economic development,the survey found that the development level of China’s regional private economy presents a significant imbalance.The eastern region is generally significantly higher than the central and western regions.The provinces and cities with higher private economic indexes are mainly concentrated on the eastern coast.The third is that China’s regional private economy and regional economic growth show an obvious spatial agglomeration effect,and generally show a positive spatial autocorrelation distribution feature.Most eastern private economies have a “high-high” trend.There are many “low-low” distribution agglomeration features in the western region;Fourthly,the actual impact of regional private economic development on China’s regional economic growth has a significant spatial spillover effect.The development of private economic in this region not only has a significant and positive effect on regional economic growth,and its surrounding area economic growth also has a significant indirect impact.Direct impact is about 1.85 times the effect of indirect impact effect.Provinces and cities can not only achieve the goal of directly promoting the stable growth of regional economy by supporting and guiding the high-quality development of private economy,but also indirectly promote the economic growth of the region by strengthening the circulation of private economic development factors between neighboring provinces and cities.