关键词: 长江经济带, 经济关联性, 资本投入, 相互溢出效应

Abstract:

The flow of factors lead to spillover effect, and the coordinated development of regional economies cannot be separated from the continuous effect of inter-provincial spillover effects. By constructing a GVAR model and using the panel data of 29 provinces (cities), it is demonstrated that there exist the spatial spillover effects of economic growth in Shanghai, Wuhan, and Chongqing, and there exist mutual spillover effects between the three cities, considering the heterogeneity of each region’s mutual influence. The results indicate that the linkage between economic growth in the eastern provinces is stronger, followed by the central region and the western region, while the economic relationship between the three central cities is not significant. Further regression analysis of the spillover effect suggests that the capital investment and foreign direct investment (FDI) of the region are positively correlated with the spillover effect, while the capital investment and FDI of the other region are negatively correlated with the spillover effect. The empirical results help to plan the economic development model of different regions, correctly understand the development relationship between each other, and promote regional innovation and development.

Key words: Yangtze River Economic Belt, economic relevance, capital investment, mutual spillover effect