The Study About Economic Effect And Statistical Measure Of Knowledge Spillovers

The development of information technology makes dissemination of informationbecome more quick and easy, knowledge spillovers is no longer confined to the region,but affects the production of knowledge of other regions, promotes the innovation levelof local and it’s surrounding areas, and new knowledge generated by these areas willoverflows to their surrounding areas. Thus knowledge spillovers will spread to theoutside in the form of "wave", which improves the overall level of innovation.Technological innovation can promote regional economic development by increasingproductivity.China’s regional economy has been developing rapidly since the reform andopening up, but the phenomenon which the development of regional economy isunbalanced is rapidly obvious. Facing the new century, how to improve the stock ofknowledge, attract external knowledge effectively and rationally, and build wealthbetter use of innovation and growth of knowledge achieves the sustainabledevelopment of China’s regional economy, which are current key issues in the contextof China’s economic development and transformation.On the basis of summarizing research about knowledge spillovers and itseconomic effect, this article has defined the knowledge spillovers, analyzed itsinfluence factors and economic effect. Based on the theoretical study, on the one hand,this article has constructed knowledge production function model which has beenbrought in the spatial effect in order to measure knowledge spillovers. On the otherhand, this article makes use of panel data model to make the quantitative analysis toeconomic effect of knowledge spillovers. The conclusion of this article can be listed asfollows:(1) Time factor and space factor have affected the measure of domesticknowledge spillovers and international knowledge spillovers. What’s more, thestrength of international knowledge spillovers is higher than the domestic knowledgespillovers’;(2) Domestic knowledge spillovers and international knowledge spillovershave played a significantly positive role in the China’s economic development, buttheir economic effects are inconsistent to China’s regional development, and even arenot conducive to the development of some areas. Therefore, three countermeasures andsuggestions about increasing human capital, raising absorptive capacity, introducingforeign investment and constructing R&D alliance to conclusions of this article have been put forward to make full of knowledge spillovers to contribute to thedevelopment of regional economy in China.