Research on the Impact of Human Capital and R&D Investment on Manufacturing Technology Innovation

Abstract

The development of China's economy towards high quality requires that the manufacturing industry must speed up the pace of structural adjustment, carry out technological innovation and master the core technology. This paper constructs the knowledge production function in the form of double logarithm linear, studies the relationship between human capital, R&D investment and manufacturing technology innovation through the patent determination equation and new product determination equation, and divides the technology innovation process into two stages: technology development and technology achievement transformation. The empirical results show that the promotion effects of human capital and R&D investment in manufacturing technology development and technological achievements transformation are different. In the process of technology achievement transformation, R&D investment has a better promotion effect, while in the technology development stage, human capital has a better promotion effect. After adding control variables, the regression results of human capital and R&D investment are still robust. On the basis of theoretical assumptions and empirical analysis, this paper puts forward relevant countermeasures and suggestions for manufacturing technology innovation.