The Role of Public Finance on Marine Economic Development

Mary O’  Penetrante,; Min  Xiao,

The Role of Public Finance on Marine Economic Development

Discipline: Economics

Abstract:

This study examines the influence of public finance on marine economic development across three coastal provinces in southeastern China Guangxi, Guangdong, and Hainan from 2013 to 2022. It focuses on public revenue and public expenditure as fiscal inputs and evaluates their effects on two key indicators: Gross Ocean Product (GOP) and the Proportion of Marine Secondary Industry (PMSI). Using secondary data and quantitative methods including Pearson correlation and multiple regression analysis, the study identifies strong positive correlations between public finance and GOP (r = 0.992, 0.988; p < 0.01), suggesting that fiscal investments substantially boost marine economic output. However, more moderate correlations with PMSI (r = 0.43, 0.399; p < 0.05) indicate weaker impacts on structural industrial transformation. Regression results further show that public expenditure alone explains 81.5% of the variance in marine economic sustainability, while the inclusion of GDP as a moderating variable increases the explanatory power to 90.7%, highlighting the crucial role of economic context in shaping fiscal effectiveness. The findings reject the null hypotheses, demonstrating significant regional disparities in fiscal impact. This research provides empirical evidence to support targeted and context-sensitive fiscal policies aimed at balancing marine economic growth with structural and environmental sustainability.

References:

Cheng L. Assessment of fishermen’s livelihood and analysis of influencing factors under the background of subsidised fishery fuel [D]. Liaoning: Liaoning Normal University,2022.
Cheng Yangyang, Qu Lili, Wang Xinyi. Research review on the synergistic effect of Marine scientific and technological innovation and blue economy development [J]. Ocean Development and Management,2021,38(2):24-29. DOI:10.3969/j.issn.1005-9857.2021.02.004.
Cheng Yuan, Chen Xin-jun, Zhao Qi-lei. Green development of China’s offshore Marine fishery: based on the perspective of resource economics [J]. Bulletin of Oceanologia Limnologia, 2020,44(2):143-149. DOI:10.13984/j.cnki.cn37-1141.2022.02.019.
China Marine Economic Statistical Yearbook, 2020
Liao, Q. M., Li, H. G., Tang, D., et al., 2022, Construction of financial development indicator evaluation system based on the perspective of the Yangtze River Economic Belt. Commercial Economy, 2022(10), 175-178+190EPSDATA https://www.epsnet.com.cn/index.html
Quickonomics https://quickonomics.com/terms/gdp/
Quickonomics https://quickonomics.com/terms/public-finance/
Tian Wen. Qingdao Marine industry development strategy research [D]. Shandong, Qingdao university, 2022.(Fiscal policy optimization)
Wang Chunjuan, WANG Qi, Liu Dahai, et al. Based on autoregressive distributed lag (ARDL) model of China’s Marine science and technology innovation and Marine industrial structure transformation and upgrading, Marine economic development cointegration analysis [J]. Science and Technology Management Research,2021,41(24):136-142. (in Chinese) DOI:10.3969/j.issn.1000-7695.2021.24.018.
Wang G Q, Chen P X, Lai Y, et al. Zhejiang Marine economy to build high quality evaluation system and empirical analysis [J]. Journal of ocean development and management, 2024, 9 (3) : 133-142.
Wang Yanming, WANG Yuchen, DING Mengqi. To build “One Belt And One Road” impact on Marine economic growth mechanism research [J]. Journal of price theory and practice, 2021 (5) : 53-56139. The DOI: 10.19851 / j.carol carroll nki CN11-1010 / F 2021.05.271.
Wang Yin-yin, Zhai Renxiang. Structural adjustment of Marine industry, spatial spillover and coastal economic growth: an analysis based on spatial panel data of China’s coastal provinces [J]. Journal of Nantong University (Social Sciences),2020,36(1):97-104. (in Chinese) DOI:10.3969/j.issn.1673-2359.2020.01.014.
Yan Kang. Study on protection countermeasures of Marine fishery ecology and environment in Dalian City [D]. Liaoning: Dalian Maritime University,2023.
Yang Yujie. Research on integrated control mechanism of land-sea transboundary pollution in China [D]. Liaoning: Dalian Maritime University,2020.
Yuan Qin. Research on the impact of fiscal policy on Marine industry transformation and upgrading in Guangdong Province [D]. Guangdong: Guangdong Ocean University,2022.
ZHANG C Y, ZHANG Y X, LIU M. Research on the development and transformation path of Dalian green Marine economy under the background of “One Belt and One Road” [J]. China, 2021 (19) : 7-9. DOI: 10.19699 / j.carol carroll nki issn2096-0298.2021.19.007.
Zhang Yu-xia, FAN Chang, ZU Yan-shuo. Marine economic development in hebei province quality empirical study [J]. Journal of hebei finance, 2023 (5) : 64-68. The DOI: 10.3969 / j.i SSN. 1006-6373.2023.05.014.