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The mystery of China's economic growth has been widely concerned by the world. However, little attention has been paid to the transformation of the economic growth momentum of Guangdong Province, which has long occupied the top in China's economic growth. This paper analyzes the evolution and the transformation of the momentum source of economic growth in Guangdong Province from 1979 to 2019, using Total Factor Productivity Growth Decomposition method. The results show that capital investment contributes the most to economic growth, the contributions of total factor productivity, and labor input rank second and third, respectively; the change of the contribution of each momentum source to GDP growth mainly comes from the impact of the secondary industry. Both industrial capital productivity and capital allocation structure play a negative role in driving the overall capital productivity, and both industrial labor productivity and labor allocation structure play a positive role in driving the overall labor productivity. Industrial factor productivity and industrial factor allocation structure play a major positive role and a weak negative role in promoting economic growth, respectively. Our findings provide some ideas on how to maintain economic growth in the new era especially for the developing countries. [ABSTRACT FROM AUTHOR]

In the past few years, the marine ecosystem has been a cheap resource in developing countries in the process of pursuing short-term vested interests. Therefore, high economic development of the developing countries is at a huge environmental cost. Nowadays, environmental protection is becoming a global concern. In this background, the government of the developing countries begins to formulate reasonable marine economic and environmental policies to find a balance between rapid economic development and marine environmental protection. In this contribution, a dynamic stochastic general equilibrium model (DSGE) is constructed with the environmental constraints, and Bayesian estimation is used to calibrate the main parameters. Next, the model is employed to analyze the effects of government and consumer environmental preferences on macroeconomic variables, environmental quality, and consumer and government utility. Results show that the government's preference for environmental quality is positively related to port environmental quality and negatively related to output, capital stock, and consumption. An enhancement of the environmental quality preference of the target audience can realize balanced development of economic growth and port environmental quality. The findings are conducive to coordinating the relationship between economic development and environmental protection and achieving sustainable development of the port. [ABSTRACT FROM AUTHOR]