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Spatial Econometric Test of Regional Economic ? Convergence
Pages: 89-96
Year: Issue:  1
Journal: Nankai Journal(Philosophy,Literature and Social Science Edition) 

Keyword:  ? ConvergenceSpatial EconometricsPanel DataThe New Normal;
Abstract: Based on ? convergence spatial econometric model and the panel data of 17 cities in Shandong Province between 1995 and 2013, an analysis of the convergence and influential factors in Shangdong’s economic growth shows that ? convergence is a distinct feature of economic growth among cities in Shandong. It shows that government expenditure has distinct negative impacts on economic growth. Fixed asset investment rate, industrial structure optimization and urbanization have significant positive effects on economic growth. The impact of population growth coefficient is limited, and the advantages of the demographic dividend decline gradually. Under this New Normal condition, Shandong Province should optimize the spatial distribution of its economy, redefine the industrial division between its Capital Economic Zone and Shandong Peninsular Economic Zone, and promote balanced regional development. It should also support the construction of soft environment with related policies, and cultivate innovative industries to promote new economic growth.
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