Research On Institutional Innovation Driven High-quality Economic Development

Practice has proved that the reform and opening up is the magic key for China's rapid economic development.At present,the construction of socialism with Chinese characteristics has entered an important historical period of a new era,the goal of national economic development has changed from the simple pursuit of rapid development to high-quality development.To achieve this transformation successfully,institutional innovation is still needed as a guarantee.At present,it is generally believed that the most prominent problems in China's economic and social development are unbalanced development between urban and rural,serious environmental pollution,weak innovation ability and low output efficiency.In view of these main contradictions and problems,the government has issued a number of policies and adopted many means to solve these problems.Based on this background,this study selects the most targeted and overall polic y as the main proxy variable of institutional innovation,deeply explores its mechanism.Through the comprehensive evaluation of the implementati on effect of these institutional means,we can fully understand the guiding and promoting role of the policies on high-quality economic development.Based on the theory of high-quality economic development and innovation driven,this study chooses urban-rural integration reform,lowcarbon city construction and innovation policy as the representative of institutional innovation means to solve the unbalanced development between urban and rural,serious environmental pollution,weak innovation ability and low output efficiency,and deeply explores its impact and underlying influence mechanism on economic growth,environmental governance,scientific and technological innovation and total factor productivity,which has better grasped the bottleneck restricting t he high-quality development of China's economy.Therefore,we establish an overall analysis framework for high-quality economic development from the perspective of the unbalanced and inadequate development problems faced by China,which are urban and rural regional development,ecological environmental protection,innovation capacity and output efficiency.The main conclusions are as follows:(1)The urban-rural integration reform can significantly promote economic growth.The urban-rural integration reform is an important measure to solve people's livelihood problems.By promoting the flow and optimal allocation of urban and rural land,labor and other elements,improving public services such as social security,the system and mechanism of urban and rural integration development is improved,the rapid and healthy coordinated development of economy and society is accelerated.Further analysis of the mechanism shows the urban-rural integration reform affects the economic growth by narrowing the income gap between urban and rural areas,transferring rural labor and optimizing consumption structure.(2)Low-carbon city construction can significantly reduce environmental pollution,and this is a long-term effect.Then,the location,the population size,the economic development,and the government support of the city will affect the impact of low-carbon city construction.Specifically,in eastern cities,cities with large population,cities with high economic development and cities with strong government support,lowcarbon city construction has a greater impact on environmental pollution.From the transmission mechanism,the low-carbon city construction has an impact on environmental pollution mainly through the optimization of industrial structure.(3)Innovation policy can significantly affect the scientific and technological innovation.Considering the spatial correlation between regions,the scientific and technological innovation between regions is not random and independent,but also affected by the scientific and technological innovation of other regions,Then,there is spatial spillover effect in innovation policy.One region's innovation policy not only has a direct impact on local scientific and technological innovation,but also promotes the development of scientific and technological innovation in other regions under the spatial spillover effect.This spatial spillover effect plays an important role in scientific and technological innovation.Finally,after distinguishing different innovation motivation,compared with strategic innovation,the direct effect and spatial spillover effect of innovation policy on substantive innovation are higher.(4)Innovation policy can significantly improve the total factor productivity.Considering the spatial correlation between regions,the connection with surrounding regions will contribute to the growth of total factor productivity in this region.At the same time,the impact of innovation policy on total factor productivity has a significant spatial sp illover effect.The innovation policy of one region will not only directly affect the total factor productivity of this region,but also radiate to neighboring regions and affect the total factor productivity growth of other regions.Then,in terms of the impact of specific policy tools,government subsidies have a significant positive effect on total factor productivity,financial institutions' loans and the transformation of scientific and technological achievement have a significant negative effect on total factor productivity,while intellectual property protection has no significant impact on total factor productivity.Further analysis of the mechanism shows innovation policy affects the total factor productivity mainly through labor distortion.From above conclusions,this study puts forward corresponding policy suggestions from the construction of institutional innovation system and the optimization of the implementation effect of institutional innovation,so as to further promote the high-quality development of China's economy through mechanism optimization.