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Network capital and economic growth of major urban agglomeration regions in China

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  • Hongming Zhang
  • Tieshan Sun
  • Yuanxi Li

Abstract

This study investigates the effect of regional urban networks on regional economic growth. This study first develops a theoretical framework by combining the concept of network capital with the theory of urban network externality, arguing that regional network capital has two dimensions: the flow volume and the clustering structure. Furthermore, this study empirically examines the role of network capital on the economic growth of major urban agglomeration regions in Chinaand employs historical instruments to address endogeneity issues. The results show that network capital has a significant impact on promoting regional economic growth. These findings imply that the flow volume and the clustering structure in regional urban networks are indispensable factors that enhance regional economic performance. Este estudio investiga el efecto de las redes urbanas regionales en el crecimiento económico regional. Esta investigación desarrolla en primer lugar un marco teórico que combina el concepto de capital de red con la teoría de la externalidad de la red urbana, bajo la premisa de que el capital de red regional tiene dos dimensiones: el volumen de flujo y la estructura de conglomerados (clusters). Además, el estudio examina empíricamente el papel del capital de red en el crecimiento económico de las principales regiones de aglomeración urbana en China y emplea instrumentos históricos para abordar las cuestiones de endogeneidad. Los resultados muestran que el capital de red tiene un impacto significativo en la promoción del crecimiento económico regional. Estos resultados implican que el volumen de los flujos y la estructura de conglomerados en las redes urbanas regionales son factores indispensables que mejoran los resultados económicos regionales. 本研究では、地域の経済成長に対する地域の都市ネットワークの影響を検討する。まず、ネットワーク資本の概念と都市部のネットワーク外部性の理論を組み合わせて理論的枠組みを構築し、地域ネットワーク資本には、フローボリュームとクラスター構造の、2つの次元があることを論じる。さらに、中国の主要な都市集積地域の経済成長に対するネットワーク資本の役割の実証的な検証を行い、歴史的手法を採用して内生性の問題に対処している。結果から、ネットワーク資本が地域の経済成長を促進する上で大きな影響力を持っていることが示される。本研究の知見から、地域の都市ネットワークにおけるフローボリュームとクラスター構造が、地域経済のパフォーマンスを高めるために不可欠な要素であることが示唆される。

Suggested Citation

  • Hongming Zhang & Tieshan Sun & Yuanxi Li, 2022. "Network capital and economic growth of major urban agglomeration regions in China," Regional Science Policy & Practice, Wiley Blackwell, vol. 14(S2), pages 60-75, November.
    • Handle: RePEc:bla:rgscpp:v:14:y:2022:i:s2:p:60-75
    DOI: 10.1111/rsp3.12587
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