Abstract
With ever-increasing economic globalization and rapid advancement of science and technology, developing high-tech industries have become an important way for many countries to achieve sustainable and environmentally friendly economic development. In this article, we aim to empirically test the critical factors, which can influence the spatial spillover of a country’s high-tech industries. Using data from the high-tech industries in China during the years of 2007–2016, we establish a space lag model and a space error model to examine the space fixed effect, the time fixed effect, and the space-time double mixed effect in spatial spillover in high-tech industries. We compare the results of these two spatial panel models with those from a general panel model and find that the spatial spillover effect within high-tech industries is rather significant. Moreover, we find that the spatial-time double mixed of the spatial lag model is the best fitting effect. Our empirical results also show that the research and development (R&D) investment and international trade can positively promote spatial spillover of high-tech industries among different regions. In terms of policy insights, our results imply that the government can establish a technology transfer platform to promote the spillover in high-tech industries. This can help achieve a sustainable and balanced development of high-tech industries.
Highlights
The development of high-tech industries has been of great strategic significance for countries to cope with the ever-changing international market competition
Reference [1] studies the research and development (R&D) activities of Spanish enterprises and found that R&D activities can greatly impact the performance of product innovation [1]
We focus on the following important questions: what are the critical factors which can influence the spatial spillover of high-tech industries? How do these factors influence the spatial spillover? What are the potential reasons for the unbalanced regional development of high-tech industries? The answers to these questions are of great theoretical and practical significance because they can help improve the output of the high-tech industries and promote the sustainable and balanced development of regional economies for many countries
Summary
The development of high-tech industries has been of great strategic significance for countries to cope with the ever-changing international market competition. It is of great importance to study the contributing factors, which can help further improve the performance of high-tech industries and promote the transformation into a more knowledge-based economy. We focus on the following important questions: what are the critical factors which can influence the spatial spillover of high-tech industries? The answers to these questions are of great theoretical and practical significance because they can help improve the output of the high-tech industries and promote the sustainable and balanced development of regional economies for many countries. We employ spatial panel models to study spatial spillover in high-tech industries. By explicitly incorporating spatial factors, the study extends existing research and contributes to our understanding on the spatial spillover in high-tech industries.
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