Abstract
This paper uses the panel data of 21 cities in Guangdong Province from 2005 to 2015 to construct a panel data model, and empirically analyzes the impact of local R&D investment on economic growth from two dimensions: spatial differentiation and time series. The results show that the total social R&D investment in Guangdong Province has a significant positive impact on economic growth; the impact of R&D investment on economic growth in the more developed regions (Pearl River Delta) and the less developed regions (other cities in Guangdong) is different. The former is twice as large as the latter, and there are obvious inter-regional differences. From the perspective of time, the gap is increasing, that is, there is a “Matthew effect”. It is better for latter to invest more in infrastructure construction, resource environmental protection, special industry cultivation and human resource development than continuing to increase R&D investment.
Highlights
With the advent of the era of knowledge-based economy, the importance of innovation has become increasingly prominent
The results show that the total social R&D investment in Guangdong Province has a significant positive impact on economic growth; the impact of R&D investment on economic growth in the more developed regions (Pearl River Delta) and the less developed regions is different
The results show that the economic growth and R&D investment in the Yangtze River Economic Belt have long-term in terms of stable relationship, R&D personnel’s input and output elasticity is higher than R&D expenditure, and R&D investment shows that the eastern region is higher than the central region, and the central region is higher than the western region
Summary
With the advent of the era of knowledge-based economy, the importance of innovation has become increasingly prominent. The ability of scientific and technological innovation has increasingly become an important factor to measure a country’s comprehensive strength. Since the report of the Eighteenth National Congress of the Communist Party of China put forward the “Innovation-driven development strategy”, China has stepped up the pace of scientific and technological innovation and strived to gain a more active position in the increasingly. To solve these problems is of great practical significance for the future development of Guangdong. According to the above-mentioned theoretical background and practical environment, this paper combines R&D investment with economic growth, discusses the effect of R&D investment on economic growth, and selects urban level data for research and analysis. It can fill and perfect the existing research on regional economic development, has certain theoretical value and practical significance. The article is organized as follows: 1) Introduction. 2) Journals reviewed. 3) The measurement model setting and data description. 4) Empirical analysis. 5) Conclusion and policy implications
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