Coordinated Development Strategy of the Beijing-Tianjin-Hebei Region and Regional Economic Convergence

Abstract

This paper selected panel data of Beijing-Tianjin-Hebei and other eastern regions except Beijing- Tianjin-Hebei from 1999 to 2018. The economic convergence model, double difference method and twoway fixed effect model are used to study the influence of Beijing-Tianjin-Hebei coordinated development strategy on regional economic convergence. It is found that (1) the Beijing-Tianjin-Hebei coordinated development strategy has a negative effect on the economic growth of Beijing-Tianjin-Hebei as a whole, Tianjin city and Hebei province, the positive effect on Beijing is gradually significant, and the intra-regional economy shows a fluctuating dispersion trend; (2) the economic gap between Tianjin and Hebei Province and the rest of the east, as well as between the rest of the east and Beijing, has narrowed. The economy of the eastern region as a whole shows convergence, but the speed of convergence is relatively slow; (3) the Beijing-Tianjin-Hebei coordinated development strategy strengthens the role of human capital in driving regional economic growth, while the effect on the economic growth of other factors is insignificant or negative. Therefore, the policy dividend needs to be further stimulated.