Empirical Analysis of R&D Investment, Industrial Structure Transformation and Development of High-tech Industry in Guangdong Province——Based on Time Series Data from 2003-2018

Abstract

The transition from high-speed growth to high-quality development is the basic strategy for China’s current economic development. The essence of high-quality development lies in releasing the vitality, innovation and competitiveness of the economy. The key lies in technological innovation and technology diffusion. This paper uses the relevant theories and methods of econometrics to conduct an empirical analysis on the relationship between the output value of high-tech industries and R&D investment, industrial structure transformation in Guangdong Province from 2003 to 2018. The results show: When the R&D expenditure (X1) of Guangdong Province changes by 1% in 2003-2018, the output value of high-tech industry (Y) changes by an average of 0.9981%. When the ratio of the output value of the second industry to the output value of the tertiary industry (X2) changes by 1 unit, the output value of the new technology industry (Y) changes by an average of 86.86%. At the same time, it also found some characteristics of the development of manufacturing and service industries in Guangdong Province, which provided a certain idea for Guangdong to cultivate new kinetic energy for economic development and promote high-quality development.