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ID:
111878
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| Publication |
2012.
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| Summary/Abstract |
The path towards a closer integration in Advanced Producer Services (APS) industries between Hong Kong and Shenzhen has been difficult despite favorable locational factors. Based on the authors' long-term and extensive working experience in the APS sectors in the Pearl River Delta, combined with in-depth interviews with senior officers of companies who are APS providers in Hong Kong in 2009, this paper will examine the factors, both tangible and intangible as in institutional and non-institutional, regulatory and non-regulatory, as well as legal, governmental, social and cultural, which affect and resist APS integration between Hong Kong and Shenzhen. The findings suggest that the integration of APS between Hong Kong and Shenzhen has been greatly impeded by unfavourable institutional factors that have overwhelmed locational advantages. There are substantial inhibitions against free competition in the China marketplace including non-regulatory and intangible inhibitions, embodied by local protectionism, heavy reliance on guanxi, rampant insider games and nepotism, excessive bureaucracy, an inadequate legal system, pervasive rent seeking and so forth that block integration between the two cities. The paper will also examine the Qianhai Free Trade Service Zone, the ambitious initiative made by the Shenzhen government to promote APS cooperation between the two areas.
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| 2 |
ID:
182718
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| Summary/Abstract |
Do Special Economic Zones (SEZs) promote the productivity of producer services, and what are the channels of the effect? To shed light on these questions, we collect a dataset of 1.46 million producer service firms on the basis of the Second Economic Census of China. We then use the dataset to prove the productivity advantages of producer service industry in the SEZs. Guided by a “new” new economic geography model, we estimate these advantages using the IV model and unconditional distribution characteristic-parameter correspondence method. Results imply that agglomeration effect is the source of the productivity advantages of the producer services in the SEZs. This effect is positively correlated with the local manufacturing scale. A high industrial relevancy between the producer services and the leading manufacturing industry in the SEZs results in a strong agglomeration effect. The preferential policy in the SEZs reduces the entry barrier for firms and attracts a high proportion of inefficient firms entering with the selection effect. This result has a negative impact on promoting the productivity of producer services. The conclusions are robust in different circumstances.
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