Shandong Province Regional R&d Investment Affect The Differences Of Research On Economic Growth

Since the beginning of the21st century, the global economy develops rapidly,and the industrial cconomy transmits steadily towards to a knowledge-based economy.With the rapid development of information and commuuication technologies,knowledge innovation, technological progress and the development of productionfrontiers become increasingly competitive. It is well known that the development isreal truth, long-term sustained growth of economic is the base of the socialdevelopment and progress. However, in different stages of development of society,and sustain economic growth momentum is not the same as in the era of knowledgeeconomy, only being innovative can we achieved connotation-growth of the economy,the R&D activities, thus, becomes particularly important.At present, Shandong Province is in a stage of rapid economic growth. Sinccthe reform and opening up, the economy of Shandong Province develops rapidly, andits main economic indicators have been among the nation’s major economic provincein the eastern coast of China. On the other hand, facing the Shandong ProvincialEconomic and depending on serious busincss-to-capitaI invesiment. corporate R&Deiffciency is not high, the imbalance of economic development among regions andother issues, these issues also to some extent restricts the sustainable economicdevelopment in Shandong. Shandong Province on the basis of their own conditions,to carry out scientiifc and technological activities, adequate and reasonable use of theR&D investment, optimize resource allocation among regions, is the urgent problemof Shandong Province for the R&D investment management.The creation of this article is to establish the reference learning and inductivesumming up the Many scholars related study, based on economic growth andtechnical innovation and other related theories, the use of statistical classificationmethods and econometric panel data model as a research tool, and for ShandongProvince R&D, Funds in severe regional dilf’erences in the problem, more thanShandong Province from2002to2010scale industiral enterprises in the relevant dataas the study sample. Shandong Province the R&L). investmcnl on economic growthto do a differential analysis, the results found in Shandong Province province as wellas R&D expenditure is high, the middle input area of R&1) stock on outputflexibility is a significant, low-input elasticity of regional R&I) stock on output isnot significant. However, no matter in which a regional capital inputs on outputelasticity are signiifcant with the, description of Shandong Province of different region of the R&D, investment in economic growth is different from the, onlyhigh-input areas of the R&I>，funding for investment in economic growth cangenerate a positive impact, and ultimately come to Shandong Province to conduct R&D investment must be combined with the characteristics of different regions, and notjust blindly increase the R8c O expenditures.On the basis of empirical analysis, by a certain level of interpretation, thisarticle wants to use the diflerent empirical results to explain the regional stage ofindustrialization. By ifnishing the Shandong Province and the region’s manufacturingindustries by industry classification of the region arc at different stages ofindustrialization, and this exactly corresponds to the flexibility of different variables,the difference between the various areas of Shandong Province. High R&Dinvestment in the region of relatively high level of industrialization, the third categoiyof industry accounted for manufacturing the main part, thereby increasing the R&Dinvestment can drive the overall economic development of these areas. R&D,low-input to industrialization and the intermediate stage, or is in the period ahead byindustrialized the initial stage of the intermediate stage of industrialization, so theseareas to increase capital investment in more revenue. This also the reason of theempirical results which show that the medium R&D input and low input region the R&D, slock of the output elasticity is not signiifcant, while the investments of capital,output flexibility h very significant and capital investment in the output elasticity isvery high. Ultimately come to Shandong Province to conduct R&D investment mustbe combined with the characteristics of different regions, and not just blindly increasethe R&D expenditures.Finally, to make the R&D investment of Shandong Province to promoteeconomic growth, this paper gives a reasonable policy recommendations based onresearch results of the analysis in this paper.Due to the lack of time and my limited capacity, there are still manyinadequacies in this paper. So1will be grateful if the experts and scholars can givesome critic ism and corrcction for this paper...