Land Element, Economic Growth, Land Utilization and Management: A Case Study in Guangdong Province of China

Most of western classic theories of economic development neglect the contribution of land element to economic growth. But land element has made great contribution to China´s economic growth at the present stage. Based on translog production function, this paper constructs an economic growth model of Guangdong Province of China including land element, and solves the model parameters by using ridge regression. The results show that land element contributed significantly to the economic growth of Guangdong Province. This paper also considers that, two approaches for realization of the dynamic balance on the total amount of cultivated land are suggested: one is the economical and intensive utilization of each land and another is land development and reclamation.