Regional Credit, Technological Innovation, and Economic Growth in China: A Spatial Panel Analysis

By drawing on the concept of sustainable economic development, this study advances the research on debt sustainability in the economic literature. We explore the correlation between local government debt and regional economic growth in 30 provinces in China. Previous studies have established that the development of economic growth between regions is not independent and we, therefore, investigate the spatial effect of regional economic growth due to the existence of a spatial spillover effect or spatial expansion among regions. Using Moran’s scatter plot, a Local Indicator of Spatial Association (LISA) map, and a semiparametric spatial model (SE-SDM), our results demonstrate the following: (1) the spatial agglomeration effect has a significant influence on regional economic growth; (2) the relationship between local government debt and regional economic growth presents nonlinear characteristics, rather than having an inverted U-shaped relationship; (3) the semiparametric spatial model more accurately characterizes in the nonlinear relationship between local government debt and regional economic growth compared to a basic regression model and the spatial Durbin model; and (4) when the scale of local government debt exceeds a certain level, economic growth will be suppressed by the crowding-out of private investment and the reduction of public expenditure.

A major issue in both analyses of and the formulation of policies toward regional development concerns the relationships between “knowledge centers” (public and private research and development institutes and complexes, institutions of higher, especially technological and scientific, education), on the one hand, and technological development and regional economic growth, on the other. Perhaps oversimplifying, the conventional view is that knowledge centers generate advances in science and technology which, when incorporated through technological innovation and diffusion in actual economic practice, then provide the basis for regional economic development. The causal chain from (scientific) knowledge creation to technological development, innovation, and diffusion to regional economic growth simply constitutes a “regional-ization” of the popular view of the extraregional (national or global) nature of these relationships, in which “science” generates “technology” which generates “economic growth”.

Along with the social division of labor refinement, under the process of global economic development, because of the advanced management thought and form of organization, logistics was applied in regional economic development, including the effect of stress on the development of regional economic integration, widespread concern from all walks of life, important research direction of regional economy gradually into the relationship between logistics and regional economic growth. In this paper, according to the regional logistics in our country economic development theory and the international logistics under the support of economic theory, with real GDP index to measure the Yangtze river between silk road economic belt and the surrounding areas in major provinces and cities logistics technical index of economic development, regional economic development and logistics technology level of two indicators to measure the qualitative relationship analysis, USES the international cargo logistics turnover function to measure, mainly using logistic function using the quantitative analysis model of measure of the relationship between the two.

This study analysed the spatial spillover effects of road and railway transport infrastructure on economic growth in the provinces of Iran. More specifically, it examined the direct, indirect (spatial spillover), and total effects of such infrastructure on the output growth of the provinces. To this end, maximum likelihood was used to estimate a spatial Durbin model for the provinces over the period 2001 to 2011. The results showed that main road and railway transport frameworks exert a positive and significant direct effect on the economic growth of the provinces. The main road and railway transport infrastructure in each province has a significant and positive indirect effect on the economic growth of the other provinces, indicating that improvements to individual infrastructure have spatial spillover effects on the economic growth of the other provinces. The conclusion drawn from these findings is that diffusion effects overcome agglomeration effects. Finally, total railway length has a positive spatial spillover effect on regional economic growth.

This paper analysed the relationship among human capital stock, science and technology innovation capacity and regional economic growth comprehensively, by using 2000-2014 panel data of the Beijing-Tianjin-Hebei economic region. The main conclusions are as follows: human capital stock, scientific and technological innovation capacity and regional economic growth has long-term cointegration relationship in the region, and the level of human capital stock’s promote can more improve the regional economic growth significantly. Finally, this paper put forward some corresponding policy recommendations to promote the positive interaction of human capital investment, scientific and technological innovation and economic growth of Beijing-Tianjin-Hebei region.

This paper aims to analyze the relation between S & T activities and economic growth in Wenzhou where individually-run enterprises dominate the economic development. Grey correlation analysis was conducted to inspect and verify the relation between them and the analysis results show that there is correlation between these two indicators. And the personnel engaged in S & T activities are more closely related to the GDP than the expenditure for S & T activities. This marks that S & T activities have an impact on the economic growth in regions where self-development private enterprises make up the most of the economic activities and the impact of the personnel engaged in S & T activities is greater than that of the expenditure for S & T activities.

The main purpose of the current study is to investigate if tourism affects economic growth of China. The data set has been acquired from the Beijing Municipal Bureau of Statistics, and the time span of the data set takes into account a 20-year time period, from 2000 to 2019. To determine the strength of the above-mentioned relationship previous models that have been used for this research are mainly VAR (vector auto-regression) and VECM (vector error correction) models. The VAR and VECM models have been conducted together with the Granger causality test. The internal revenue generated from tourism-related activities is taken as being the main indicator for the tourism industry, while economic growth is determined by GDP (gross domestic product). We support the above-mentioned notion, as we found that a strong relationship exists between the development of the tourism industry and economic growth. Moreover, our analysis also indicates that this industry has a major impact on long-term economic growth in the region as well. This study thus provides further support to the existing literature on the topic of tourism and the impact that tourism-related activities have upon economic development and growth. The existence and the impact of tourism-related activities upon long-term economic growth were confirmed by the results of the VAR models. At the same time, the unidirectional results of VECM models have confirmed the existence of economic growth in the short term. In our case, the cardinal relationship between the development of the tourism industry and the economic growth in the Beijing region of China have managed to provide strong empirical support to the earlier stated notions and to the literature alike.

The impact of regional financial development on economic growth in Beijing–Tianjin–Hebei region: A spatial econometric analysis

Labor mobility freely plays an important role in resources allocation effectively, productivity improvement and economic growth. This paper uses non-parametric panel model to study the impact of labor mobility on regional economic growth in China from 1997 to 2009. The results are summarized as follows: (a) considered from whole country, labor input (output) has positive (negative) influence to economic development, the contribution of labor input is higher than that of labor output; (b) the contribution of labor input to economy of eastern and western regions are positive but negative influence to middle region, the contribution of labor output to economy of eastern and western regions are negative but positive influence to middle region.KeywordsLabor MobilityRegional Economic GrowthNon-parametric Panel Model

Education development is a critical component for a modern economy as the illiteracy rate can hinder economic growth. The illiteracy rate in China has decreased rapidly since 1980s, but there still exists an imbalance in distribution of educational resources among different regions. In order to explore the impacts of education quality on regional economic growth, we employ a quadratic directional distance function to derive the shadow prices of illiteracy for 31 provinces in China. In this case, shadow price is interpreted as the opportunity cost of reducing the illiteracy rate. The results show that the highest shadow price of illiteracy is observed in the middle region. Looking at individual provinces, Zhejiang shows the lowest shadow price of illiteracy, whereas Shanxi features the highest one. The shadow price of illiteracy showed a downward trend in the eastern region, while increasing trends were observed for the middle and the western regions during 2005–2011. Moreover, the gap between the eastern region on the one side and the middle and the western regions on the other side has been increasing.

The double-wheel drive of manufacturing industries and producer services industries is one of the key pathways to promote high-quality development relying on a modern industrial system. This paper explores the impacts of industrial co-agglomeration on regional economic growth in China with systematic consideration of static, dynamic, and spatio-temporal perspectives based on panel data for 285 prefecture-level cities from 2003 to 2020, employing the consolidated night-time light data. The empirical results show that industrial co-agglomeration significantly accelerates regional economic growth, especially high-tech intensity producer services industries, information industries, and finance industries. In addition, its spatial spillover effects are evidently established, which are characterized by cyclic accumulative, feedback features, and distance attenuation. Carrying out robustness tests, the preliminary regression results are verified. The heterogeneous influences are established across cities with different geographical locations, innovation capacities, and resource endowments. The further mechanism analysis indicates that industrial upgrading, technological progress, and efficiency enhancements account for the main channels for a sharp promotion in regional economic growth over the sample period. Furthermore, the government moderates this process more significantly than market forces do, especially when it comes to macroexogenous shocks that are regulated by the government. The findings of this study recommend policymakers to give full play to the positive externalities of industrial co-agglomeration and accelerate the industrial co-agglomeration process in a reasonable manner, so as to promote high-quality economic growth in China.

Research purpose. This research paper delves into the threshold effects of public debt on economic growth in Central and Eastern European countries, both before and after the COVID-19 pandemic. Its primary aim is to pinpoint critical thresholds of the public debt-to-GDP ratio that either stimulate or hinder economic growth in these regions. Design / Methodology / Approach. Data spanning from 2010 to 2022 are analysed using a variety of advanced econometric techniques including OLS, Fixed-Effects models, Random-Effects models, Hausman Taylor Estimation, GMM Dynamic Panel Data, and the Threshold model. Findings. The study reveals significant findings: before the COVID-19 pandemic, the optimal debt-to-GDP ratio threshold stood at 42.5%. However, considering the combined impact of the COVID-19 pandemic and the Ukraine crisis, this threshold adjusts to 33.69%. This indicates that Central and Eastern European countries can safely increase their debt levels up to these points without detriment to economic growth. Beyond these thresholds, however, further increases in public debt yield negative economic effects. These findings offer invaluable insights for policymakers in Central and Eastern European countries, equipping them with evidence-based guidance on managing public debt levels effectively. Originality / Value / Practical implications. This study offers original insights into public debt thresholds' effects on economic growth in Central and Eastern European developing countries before and after the COVID-19 pandemic. It highlights how debt thresholds shifted due to the pandemic and geopolitical events, providing practical guidance for policymakers. These findings support evidence-based debt management strategies to ensure economic stability and growth in the CEE region.

This paper focuses on how the human resource function can be used as a pillar in Caribbean and other regions in creating national and regional economic and social growth. The approach is based on the premise that organisational human resource policies can, if properly configured, provide a direct and economically significant contribution to firm performance. The focus, therefore, lies on improving firm performance as a means of creating national and regional economic and social growth. The example of the Caribbean Community (CARICOM) is used, highlighting the role that strategic HR can play in the region's economic development. In examining the challenges facing the region, it is easy to determine that the pillar of the economic development strategy rests with the workforce of the respective nations. CARICOM is a region faced with high levels of poverty, illiteracy, lack of expertise and skills, and frequently employees frustrated with systems, policies, and resigned to merely trying to survive. Given these conditions, how can HR strategies systematically create meaningful changes and enable productivity at the individual and organisational levels, and foster national and regional economic growth?

The high-tech zone as the locomotive of economic growth, it plays an important pole to promote regional economic development. This paper researches empirically the relationship between technology innovation diffusion of Hunan high-tech zone and regional economic growth based on panel date. The results show that technology innovation diffusion of Hunan high –tech zone has made great progress, but there is a big difference among these high-tech zones; technology innovation diffusion of high-tech zone has a significant influence on regional economic growth, it promotes economic growth of Hunan province about 6.988% if the growth of high tech-zone GDP is 10%; however, technology innovation diffusion effect from various high-tech zones exist significant difference. 10% growth of high tech-zone GDP can drives the regional economic growth of 8.904% at most or 2.335% at least.

This research is entitled "The Influence of Regional Expenditures and Regional Economic Growth on Regional Financial Independence in Jambi Province. The research aims to measure and analyze: 1). Ratio of regional financial independence, development of regional spending and economic growth in districts/cities in Jambi Province during 2017-2023, 2). The influence of the regional financial independence ratio on regional expenditure in Regencies/Cities in Jambi Province and 3). The influence of the regional financial independence ratio on economic growth in Regencies/Cities in Jambi Province during 2017-2023. Data analysis uses quantitative and quantitative descriptive analysis methods, namely ratio, development and panel data regression. The results of research during 2017-2022 show that on average the districts/cities of Jambi Province have a very low independence ratio, the highest being Jambi City and the lowest being Sungai Full City. All regional expenditures experienced an increase, the highest in Bungo Regency and the lowest in Sungai Banyak City. GRDP all increased, the largest being Sungai Banyak City and East Tanjung Jabung Regency the lowest. The independence ratio has a positive and significant effect on regional expenditure or economic growth of districts/cities in Jambi Province at probability values of 0.0329 and 0.0352.