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Exploring the Relationship Between Technological Innovation Input and Economic Growth in China

Yixuan Yan

Abstract


A report of the 19th National Congress of Communist Party of China (2017) stated that the core of innovation-driven development is technological innovation. For finding future economic development strategies in China, based on national time-series data from 2000 to 2019, this study mainly focuses on how technological innovation input affects economic growth. A multiple linear regression model was constructed; the results showed that both research and development (R&D) fund input and personnel input play a positive role in influencing economic growth in China, and the impact of R&D expenditure is more significant than that of R&D personnel. On this basis, we found the long-term stationary equilibrium relationship between technological innovation input and economic growth by applying the unit root test and cointegration analysis. Finally, two-stage least square specification was used to eliminate issues caused by endogeneity. Based on the above conclusions, the paper proposed policy suggestions for economic growth.

Keywords


Technological Innovation; Economic Growth; China

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References


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DOI: http://dx.doi.org/10.18686/fm.v6i2.3418

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