Foreign Direct Investment Inequality (FDI) and Convergence of Growth: Evidence from Yangtze River Delta
AbstractThe Yangtze River Delta (YRD) Economic Circle has experienced a long period of development. From the original Shanghai Economic Zone in 1983, altogether 10 cities encompassing Suzhou, Wuxi, Changzhou, Nantong and Hangzhou, Jiaxing, Huzhou, Ningbo and Shaoxing surrounding the Shanghai Core, to the final stage in 2003 when the latest leaguer, Taizhou of Zhejiang Province joined the family, the YRD has been experiencing a long time of expansion. Focusing on the aggregation, see Table 1, the YRD attracted almost half the FDI in the nationwide scale, over 1/3 export and import, around 6 percent of the fixed investment and produced nearly 1/5 of the GDP. We should say this was, and is a miracle in the river of regional economic growth.
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