Empirical Research On Science And Technology Input Upon Promoting Economic Growth In China

Currently, China’s economy has entered a period of new normal, the economy is increasingly driven by innovation instead of input and investment. Technology innovation is the core of innovationdriven development strategy, improving the science and technology innovation ability, abundant investment is the assurance in science and technology. Only increasing investment in science and technology, which can promote constantly innovation, and then promote sustainable economic development, accelerate the Change of the Growth Model. There are differences in our country’s science and technology input to promote economic growth in academic fields. In recent years, some researchers used spatial econometrical methods to compute effects of science and technology input to promote economic growth, however, these researchers didn’t decompose total effects into direct effects and indirect effects, which will be bad for evaluating effects in science and technology input to promote economic growth, and affecting in drawing strategies, then will take disadvantages in science and technology innovation, then affect economic growth. So in order to promote regional development of science and technology, it is important to compute accurately the direct effects and indirect effects of country’s science and technology input to promote economic growth. In order to compute accurately the direct effects and indirect effects of country’s science and technology input to promote economic growth, firstly, in order to build reasonable spatial econometric model, we deduce the theoretical model in science and technology input to promote economic growth, which based on the spatial econometric frames of analysis. Secondly, we take different datasets to measure effects of different time in science and technology input to promote economic growth. Finally, based on current situation of science and technology innovation to promote economic growth, propose some policies to enhance effects in science and technology innovation to promote economic growth. To achieve above goals, writing this article as follows: chapter 1, the first presenting the paper’s background, pointing out the urgency of the current research of science and technology input to promote economic growth, and reviewing the existing literature related to this research, and putting forward the research goal and the main content of this article. In addition, the research methods used in this paper and the research mentality and the related data and source are illustrated; Chapter 2 reviewing the relevant classical theory of economic growth and spatial econometric methods, as a starting point as the foundation of the follow-up work; Chapter 3, based on the advanced theories of science and technology in promoting economic growth, exploring the mechanism of science and technology input in promoting economic growth; Chapter 4, analyzing our country’s basic situation science and technology input and economic growth since 1997; Chapter 5, on the basis of previous analysis, establishing the spatial econometric model verifying empirically the space effect of science and technology input to promote economic growth.Finally, summarizing this article’s research conclusion, and putting forward the reform of science and technology input to promote economic growth in China.In this paper, the main research conclusions:1. No matter in the short or long time, science and technology input have significantly contributed to the provincial economic growth, and the effect are expanding, at the same time, the promoting effects on economic growth has overtaken labor input to economic growth after 2008; science and technology input of spatial spillover effects significantly promoted the growth of surrounding provinces, and the effects of spatial spillover also shows increasing trend.2. Both in the short and long term, the capital have significantly contributed to the provincial economic growth, is still the most important engine in driving provincial economic growth; The spatial spillover effects of capital promoted significantly the growth of surrounding provinces, the spatial spillover effects is slowly declining.3. The financial crisis has seriously affected the labor on provincial economy growth, the labor of promoting effects on economic growth have plunged. Spatial spillover effects of labor, however, has a positive influence in the financial crisis, the spatial spillover effects of labor promoted significantly the growth of surrounding provinces after 2008.On the basis of the above research conclusions, putting forward the targeted policies:1. Funding increasingly in science and technology. Along with the promoting effects of science and technology on region’s economic growth and the spillover effects of adjacent regions, science and technology input increasingly will produce the whole effects of “one and one greater than two”.2. Developing and improving the incentive mechanism which is advantageous to spurt the science and technology innovation, adjusting and formulating taxation reduction, preferential loans, taxes and profits rebates for science and technology innovation, at the same time, the government should encourage financial institutions to set up innovation insurance to eliminate innovation subjects’ anxiety.3. Improving increasingly the ability of transformation of achievements of science and technology. Only scientific and technological achievements change into realistic productivity, it is possible to constantly promote regional economic growth, and then regional economic growth can promote adjacent regions’ economic growth by spatial spillover effects.4. Rely on the combination of production, education and research, promoting market-oriented science and technology innovation, making enterprise as the main body of technological innovation. At present our country’s science and technology innovation mainly comes from colleges and universities, research institutions, however, enterprises of science and technology innovation ability is relatively weak. So, it is necessary to encourage exchanges and cooperation between enterprises and colleges and universities, between research institutions and enterprises, the government should provide good environment for the development of the industry to adapt to the science and technology content, build the platform for combination of production, education and research and provide security to promote regional economic development; Enterprises should gradually realize that the science and technology innovation is to push forward its source, the application of new technology, new technology as the basic way of firm growth.