Research On The Realization Mechanism Of Innovative Economic Growth In China

Economic growth is a constant topic in economic circle which every stage of the development of human society needs to face.Different economic growth issues exist i n different stages of economic growth in a country or region.China is now undergoing the crucial stage of economic transformation in which resource issues, environmental issues, social issues and other issues are spurring converting in the mode of economy growth in China. After the objective of realizing the economy to transform from the es sential factor actuation to the innovation actuation has been established, the mechanis m to promote economic growth becomes a further need to explore the issue.The realization mechanism of innovation and economic growth studied in this pa per, with the adoption of the methods of comparative analysis and case study.In the th eoretical aspect, the paper compares the different analysis frameworks and the conclus ions of the economic growth of innovation in economics, and same and different point s of the theoretical framework of this paper with the existing innovation growth theory. In practice, cases are used to illustrate the feasibility of implementing the mechanism i n the real economy.Based on the modern theory of economic growth, this paper reviews the theory of economic growth related to innovation and focuses on, Schumpeterian neoclassical growth theory, the theoretical basis of this paper.The role of innovation in promoting economic growth had been reflected in the theory of economic growth in the early sta ge.And with the continuous improvement of the theoretical hypothesis, Schumpeteria n neoclassical growth theory was evolved by the combination of technology endogeno us and destructive innovation.It can be seen that the relationship between innovation a nd economic growth is not the first time to be discussed, but these studies are more th eoretical thinking or empirical researches in the economic environment at that time.Th ere are few literatures on analysing the mechanism of innovative economic growth ba sed on real economic under China’s current development environment so that this pap er will do some simple attempts in this direction.Three types of implementation mechanisms of economic growth, continuous inn ovation of production factors, innovation of imitative technologies and innovation of s ubversive platforms, are discussed under the current economic background in this pap er.The realization mechanism of innovation and economic growth studied in this pape r, with the adoption of the methods of comparative analysis and case study.In the theor etical aspect, the paper compares the different analysis frameworks and the conclusion s of the economic growth of innovation in economics, and same and different points o f the theoretical framework of this paper with the existing innovation growth theory.In practice, cases are used to illustrate the feasibility of implementing the mechanism in the real economy.The realization mechanism of sustainable innovation in economic growth is the a ppropriate choice aimed at current statuses of China, such as slower growth, local ove rcapacity, and demographic dividend reduction, which can provide long-lasting power for economic growth.The continuous innovation behaviors in order to promote econo mic growth by improving some production factors can be applied in any development phases of any industries. Imitative innovation makes full use of the advantages of bac kwardness of technical levels in China and realizes the economic growth with the low er cost and risk.Subversive innovation realizes information integration through Interne t platforms, reduces the transaction costs of enterprises and improves the profit rate of enterprises.By attempting to explain how to improve the production efficiency by ind ividual innovative behavior, then increase the rate of potential output and ultimately d evelop economic growth, these three kinds of realization mechanisms of innovative e conomic growth have their own emphases.Through theoretical analysis and case study, this paper concludes that the product ion efficiency of enterprises can be improved by innovation behaviors of the microeco nomic units. When this innovation becomes a new industry standard, the potential outp ut rate of the whole industry is improved, and then the sustainable economic growth is promoted.Some suggestions are put forward at the end of this paper for the specific p roblems of the three realization mechanisms on innovative economic growth and the o verall economic environment.