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Study on the impact of R&D input intensity on technological innovation output ‐ Based on data from China's high technology industry.
- Source :
- PLoS ONE; 10/17/2023, Vol. 18 Issue 10, p1-16, 16p
- Publication Year :
- 2023
-
Abstract
- With the continuous promotion of China's innovation-driven development strategy, the role of technological innovation on economic development has become increasingly important. In this context, the support of R&D capital investment for technological innovation also becomes non-negligible. This leads to the question of whether the allocation of R&D capital is reasonable and whether there is room for further improvement. This paper is based on inter-provincial panel data from 2009 to 2020, which are classified based on China's National Bureau of Statistics for R&D funding sources in high-tech industries and incorporated into an overall discussion framework. Using STATA16 statistical software, the R&D innovation output of high-tech industries is inves-tigated by building a PVAR model with the perspective of funding sources of R&D input intensity. The study results show that (1) the increase in the intensity of enterprises' own capital investment has a positive impact on innovation output because it can generate a financial "reservoir" effect to support technological innovation. (2) the increase in the intensity of government capital invest-ment has a positive impact on innovation output because it can alleviate the loss of income of en-terprises due to "R&D spillover" and will send a positive signal to the market. (3) the foreign in-vestment intensity has a positive impact on the innovation output of enterprises due to the com-bined effect of "spillover effect" and "crowding out effect". (4) the increase of other capital in-vestment intensity also has a neutral effect on the increase of innovation output under the current financial market environment. Finally, based on the above findings, corresponding policy impli-cations are drawn. This study will help to improve the understanding of R&D capital allocation imbalance and R&D input and output issues in developing countries and provide a reference for policy makers. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 19326203
- Volume :
- 18
- Issue :
- 10
- Database :
- Complementary Index
- Journal :
- PLoS ONE
- Publication Type :
- Academic Journal
- Accession number :
- 173037977
- Full Text :
- https://doi.org/10.1371/journal.pone.0292851