Balancing macroeconomic growth with regional equilibrium development is essential for China’s pursuit of the modernization through regional coordinated development.Taking a macroeconomic output perspective and employ...Balancing macroeconomic growth with regional equilibrium development is essential for China’s pursuit of the modernization through regional coordinated development.Taking a macroeconomic output perspective and employing a counterfactual framework,this paper evaluates the economic growth effects of China’s“place-based”and“people-based”regional policies,and explores the future implementation effects and optimal combinations of these policies under different market environments.Given that“people-based”policy cannot address market failures in spatial dimensions,the essence of the academic debate over regional policy paths lies in different understandings of the relationship between government and markets.展开更多
文摘Balancing macroeconomic growth with regional equilibrium development is essential for China’s pursuit of the modernization through regional coordinated development.Taking a macroeconomic output perspective and employing a counterfactual framework,this paper evaluates the economic growth effects of China’s“place-based”and“people-based”regional policies,and explores the future implementation effects and optimal combinations of these policies under different market environments.Given that“people-based”policy cannot address market failures in spatial dimensions,the essence of the academic debate over regional policy paths lies in different understandings of the relationship between government and markets.
