Abstract
This paper explores the synergy effect of the government subsidies, tax incentives, and government procurement on innovation based on synergy theory, and further analyzes its path and mechanism in the process of innovation. We find that government subsidies, tax incentives, and government procurement exert positive synergy effect on innovation. Furthermore, in the process of innovation, government subsidies are shown to play strongest roles in the stages of innovation input and technological development, while government procurement is the most crucial in the transformation stage of technological innovation, and tax incentives play balanced roles. We also find that innovation resource input, innovation technology spillover, and innovation cooperation all play partial mediating roles in the synergy effect of science and technology policies on innovation. This paper applies the synergy theory to the field of innovation policies, which enriches and expands relevant researches, and provides micro-evidence for in-depth understanding of the effect of science and technology policies on innovation.
Highlights
As the “new engine” of economic development, innovation plays an increasingly important role in the economic development of countries around the world [1]
The Chinese government has established a relatively comprehensive system of policies to promote the marketization of innovation, such as subsidies, tax incentives, and government procurement-all of which are meant to stimulate innovation synergisticly
We explore the synergy effect of science and technology policies on innovation, and further analyze its path and mechanism
Summary
As the “new engine” of economic development, innovation plays an increasingly important role in the economic development of countries around the world [1]. We explore the synergy effect of science and technology policies on innovation, and further analyze its path and mechanism. We divide innovation into three stages (innovation input, technology development, and achievement transformation) according to the innovation cycle in order to analyze the path of the synergy effect, and find that different policies have different effects on different stages of innovation, which has a certain guiding significance for policy formulation and adjustment. With attention to the internal and external enterprises behaviors in the process of innovation, we analyze the mechanisms of the synergy effect of science and technology policies on innovation, and we find that innovation resource input, innovation technology spillover, and innovation cooperation all play partial mediating roles, which provide new insights relevant to related research
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
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 call
