Research on the contribution rate of scientific and technological progress to Chongqing’s economic growth Based on the Solow Growth model

Yixin Zheng,E.H.K Ng,H Liu,Yucheng Wang,G Kierans

doi:10.1051/e3sconf/202123501012

Yixin Zheng, E.H.K Ng + Show 3 more

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https://doi.org/10.1051/e3sconf/202123501012

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Abstract

In the context of current proposed transformation of economic development of the region are actively rely on capital from investment to promote economic growth mode to a mode relying on technological progress to promote economic growth up. Therefore, this paper selects the sample data of Chongqing from 2010 to 2017, and based on the empirical analysis of the Solow residual value model, using SPSS statistics 25 software, studies the contribution of Chongqing’s capital investment and labor input, especially technological progress, to economic growth. The research shows that the contribution rate of Chongqing’s capital input to economic growth has always been at a relatively high level, but it has shown a general downward trend. At the same time, the elasticity coefficient of capital input is small, indicating that its contribution to economic growth is small; the contribution rate of labor input fluctuates greatly but the impact is small; the contribution rate of scientific and technological progress to economic growth shows an overall upward trend, which has become an important factor for driving Chongqing’s economic growth after capital investment. Therefore, governments must accelerate the transformation of the economic development mode, vigorously promote the development of science and technology, and rely more on scientific and technological progress to promote economic growth and achieve sustainable economic development.

Highlights

As the second largest economy in the world, China's economic growth rate has been stable at about 7% per year
[4] LI Lanlan, the military and various gram MENT to expand the use of the Cobb-Douglas production function and Solow residual value model estimates the contribution rate of science and technology for national economic growth, the results showed that: China's regional imbalance level of technological development, Shanghai The highest contribution rate of scientific and technological progress is 54.19%; Beijing is followed by 48.90%; Sichuan is the lowest at 28.59%
The capital investment contribution rate and labor input contribution rate fluctuated very much, but in recent years have shown a downward trend, especially in 2016 and 2017, Chongqing labor input contribution rate are negative, respectively -6.17% and 16.54 %; The contribution rate of capital investment to economic growth has always been at a high level, with an average contribution rate of around 100%

Summary

Introduction

As the second largest economy in the world, China's economic growth rate has been stable at about 7% per year. China is currently committed to transforming its economic development mode, mainly relying on innovation and technological progress to promote economic growth. In the case of responding to new crown epidemic, how to ensure steady economic growth, fundamentally necessary to the economic growth mode from the support rely on physical capital investment to support scientific and technological progress to improve the economic growth quality and efficiency up. This makes the research on the relationship between technological progress and economic growth more important and urgent

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Discussion

Conclusion