The Rise of China's Coastal Areas: Power of Market
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| Title | The Rise of China's Coastal Areas: Power of Market
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| Author | Wei Qian, Wang An, Wang Jie, Liu Taoxiong |
| Organization | Center for Economic Research, Shan Dong University |
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| Key Words | Rise of China's Coastal Areas; Economic Growth; Marketization Index; Index of Market Integration |
| Abstract | By constructing two complementary indicators of marketization, we empirically investigate the importance of market development in the rise of China's coastal areas, under the control of capital, nature resources, infrastructure construction and preferential policies. The panel data of China’s 28 provinces from 1985 to 2010 is used. Especially, to get a more credible result, we use the approach of two stage least square and dynamic panel data model, which is estimated by SYS-GMM. The results show that market development has played a crucial role. It is worth mentioning that our research is far more than the time series of 1985-2010. We use the “natural” experiment in the period of 1956-1978, when resources are entirely planned in the economy. Constructing dummy variables, we further explore the role of market by comparing planned economy and market economy, to ensure the robustness of our results. |
| Serial Number | WP401 |
| Time | 2012-12-07 |
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