Abstract
PurposeThe purpose of this paper is to explore the relationship between the patenting movement and economic growth by analyzing development states and raising possible questions of high‐tech industries in order to provide lessons for policy makers.Design/methodology/approachA model of polynomial distribution with lagging effect was applied to patenting data and economic operation data, including revenue from new products.FindingsThrough three grouped investigations, namely: short term, medium term, and long term, it was found that innovation activities significantly influence positive economic growth in high‐tech industries. However, total patent output elasticity (POE) in some high‐tech industries is lower than in non‐high‐tech industries. Among the detailed sectors selected in this study, medical equipment and measuring instruments show higher POE.Originality/valueThis paper focuses on an industry‐level study of the relationship between the patenting movement and economic growth, which has important theoretical and practical significance to promoting high‐tech industry innovation capability and enhancing the technological innovation competitive advantage of China.
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