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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
