Validity Checks for Natural Resource Regulation on Regional Economic Growth in China on the Basis of Provincial Panel Data
2013
Hong, Zhou | Gu, Shuzhong | Yulong, Yao | Limao, Wang | Yongjun, Hu
We analyze the mechanism of natural resource regulation on regional economic growth and estimate the model based on panel data for 31 Chinese provinces from 2000 to 2009. Our findings suggest that a fixed effect model is more appropriate than a mixed cross section or random effect model. A fixed effect model between natural resource regulation and regional economic growth quantity and quality was constructed to check the validity of natural resource regulation on regional economic growth. We found that natural resource regulation is effective at regulating regional economic growth; and natural resource regulation restrains regional economic speed to some extent. The per unit growth of natural resource regulation intensity will cut 24.6 billion CNY in gross domestic product; however, natural resource regulation can improve the quality of regional economic growth. Growth in the per unit natural resource regulation intensity will increase the index of regional economic growth quality by 0.022 units. In summary, these data support the proposal for using natural resources to regulate regional economic growth and transformation.
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