SPECIAL ECONOMIC ZONES: THE IMPACT AND IMPLICATIONS ON ECONOMIC ROWTH WITH REFERENCE TO THE CHINESE MODEL

Abstract

The subject of the research is related to the analysis of the impact of special economic zones on the economic growth of countries that have applied the aforementioned concept of economic development, with reference to the Chinese model. The research goals are to provide the scientific and expert public with an overview of the mechanism of special economic zones and the implications on targeted macroeconomic parameters. The research was conducted by analyzing the relevant literature, the method of deduction and quantification of the impact of special economic zones on economic growth. The research will provide an answer to the research problem that is sublimated in the question: Do special economic zones stimulate economic growth of the national economy and how? The results of the research will show that there is a strong relationship and a degree of determination between special economic zones and targeted macroeconomic parameters. This will confirm the basic hypothesis that special economic zones have a significant impact on sustainable and inclusive economic growth of the national economy ceteris paribus as well as the access to high technology, innovations and know-how.