Value Production, Value Transfer and Accumulation: A Political Economics Analysis of Uneven Regional Development in China

China Finance and Economic Review Pub Date : 2022-07-01 DOI:10.1515/cfer-2022-0003

Zhixuan Feng, Bangxi Li, Zhiming Long, Chen Zhang

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Abstract

Abstract This paper aims to understand China’s uneven regional development in recent years on the basis of on political economics theories. We summarizes two theories from the political economics on uneven regional development—framework of production and framework of exchange—and unifies them by theories of labor value and capital circulation. It means to show that uneven regional development will be explained with value production, value realization and capital accumulation, and their interactions as well. This framework can not only explain regional disparities in a static sense, but also presents dynamically developments of regional disparities—first rising and then falling. Empirical research finds China’s regional disparities result mainly from the value production gap. During the period of analysis, China went through a capital accumulation biased towards less developed regions, jointly shaped by market logic and government behavior. It made the effect of reducing regional disparities stronger than the “polarization effect” around 2007, producing a narrowing of disparities across regional development.

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价值生产、价值转移与积累:中国区域发展不平衡的政治经济学分析

摘要本文以政治经济学理论为基础，对近年来我国区域发展不平衡的状况进行了分析。我们总结了政治经济学关于区域不均衡发展的两种理论——生产框架和交换框架，并用劳动价值理论和资本流动理论将其统一起来。这意味着表明，区域发展的不均衡将用价值生产、价值实现和资本积累以及它们之间的相互作用来解释。该框架不仅可以静态地解释区域差异，而且可以动态地呈现区域差异的发展——先上升后下降。实证研究发现，中国的区域差异主要源于价值生产差距。在分析期间，中国经历了一场偏向欠发达地区的资本积累，这是由市场逻辑和政府行为共同塑造的。它使缩小区域差距的效果比2007年左右的“两极分化效应”更强，从而缩小了整个区域发展的差距。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

China Finance and Economic Review

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0.60

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0.00%

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