Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 38 , 10 November 2023
Open
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A Study of How Technological Innovation Affects China's Economic Development
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Abstract
Technological innovation is a crucial element and driving force behind the advancement of economic development. The two-way fixed effects model is used in this research to investigate how technological innovation influences economic development. The research period spans from 2011 to 2020 and includes 30 provinces, municipalities, and autonomous areas in China. The data used are from China’s National Bureau of Statistics (NBSC). The empirical analysis led to the following conclusions: Economic development and technological innovation have a significant positive association; the higher the number of patents granted in a city’s technological innovation output, the better the regional economic development. Technological innovation significantly and positively affects economic development in both the Eastern and Western areas. However, in terms of economic growth and technical innovation in China, the western area lags behind the eastern region. The government should increase financial investment and policy support in technology innovation and strengthen financial and tax support for new science and technology industries.
Keywords
technological innovation, economic development, two-way fixed effects model, regional economic development, patent
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-097-4
- ISBN (Online)
- 978-1-83558-098-1
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/38/20231889
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited