산업구조 다양성이 중국 도시화에 미치는 영향: 횡단면 의존성 및 계수 이질성을 고려하여

The Impact of Industrial Structure Diversification on Urbanization in China: Considering Cross-Sectional Dependence and Slope Heterogeneity

Purpose - This study investigates how industrial structure diversity influences the urbanization process, based on panel data from 31 provinces in China covering the period from 2008 to 2022. Design/methodology/approach - To estimate long-term coefficients, we use the augmented mean group (AMG) estimator, which controls for cross-sectional dependence and slope heterogeneity in panel data models. Findings - First, the AMG estimation results for the full panel show that the coefficients of the Herfindahl- Hirschman Index (HHI), nominal GDP per capita, the urban-rural income gap, and the share of educational financial expenditure are positive and statistically significant, while those of road density and trade openness are not statistically significant. Second, the group-specific results indicate that the coefficient of the HHI is significantly positive in region with high industrial structure diversity and in the central-western region, but not statistically significant in region with high industrial concentration or in the eastern region. Lastly, HHI exhibits significantly positive effects in both the high and low per capita GDP regions. Research implications or Originality - At present, urbanization in China has reached a relatively mature stage. To support further progress, it is necessary to formulate industrial policies that fully consider regional characteristics and differences, thereby promoting more rational and location-specific planning.