Has “The Outline of the Plan for the Reform and Development of the Pearl River Delta” Promoted to the Coordination of Guangdong-Hong Kong-Macao Greater Bay Area

Abstract

The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is an important regional development strategy implemented by our country in the new era. The development of coordination is the point. It is known that the scope of implementation of the outline includes the Pearl River Delta region and Hong Kong and Macao, consistent with the scope of Guangdong-Hong Kong-Macao Greater Bay Area. So, as to whether this outline has promoted the coordinated development of Greater Bay Area, this paper, based on the counterfactual analysis, constructs the HCW model and makes an empirical analysis from three aspects, regional economic relations, regional economic growth and regional economic differences. The results show that the outline did strengthen relations of Great Bay area, promote the regional economic growth and also have a positive effect on the reduction of regional economic differences. These conclusions can provide valuable reference for promoting the coordination of Guangdong-Hong Kong-Macao Greater Bay Area.