The Impact of Technological Innovation on China's Economic Level

DOI

10.2991/hssmee-18.2018.51How to use a DOI?

Keywords

technological innovation, economic level, AR

Abstract

Based on the Cobb-Douglas production function, this paper studies the impact of China's domestic technological innovation on China's economic level from 1992 to 2016. Considering the lag of the impact of technological innovation on economic level, this paper input the time series data into the Cobb-Douglas production function to establish an autoregression model (AR). Firstly, it uses the ADF to verify whether the variables have a unit root, and then uses the regression models to analyze the impact of technological innovation, number of research and development (R&D) personnel, and capital investment on China’s gross domestic product (GDP). Through the empirical analysis, it can be concluded that the GDP lagging one year, the domestic patent granted lagging one year, the total investment in fixed assets and the total investment in fixed assets lagging one year do have a positive contribution to the economic level. However, the R&D personnel full-time equivalent and the R&D personnel full-time equivalent lagging one year are negatively related to the economic level, which implies that there might be excessive R&D personnel full-time equivalent in China. There are two explanations to answer why the economic level goes down when we add more researchers into labor market. For one thing, researchers in China are not able to efficiently transform their research into technological innovation. For another, China’s current economic level and market share limit its ability to benefit from increasing R&D personnel full-time equivalent.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yue Shan
PY  - 2018/09
DA  - 2018/09
TI  - The Impact of Technological Innovation on China's Economic Level
BT  - Proceedings of the 2018 International Symposium on Humanities and Social Sciences, Management and Education Engineering (HSSMEE 2018)
PB  - Atlantis Press
SP  - 307
EP  - 316
SN  - 2352-5398
UR  - https://doi.org/10.2991/hssmee-18.2018.51
DO  - 10.2991/hssmee-18.2018.51
ID  - Shan2018/09
ER  -