Study On Regional Differences Of R&D Investment On Economic Growth In Liaoning Province

As the development of society, technology investment is becoming more and moreimportant to the economic growth in the mid-21st century. With the fast development ofthe economy, the science and technology is playing a more and more important role inthe economy. And the indispensably element is the R&D investment. Liaoning Province,as Chinese important old industrial bases in Northeast China, has played an importantrole in the economic development of China, and along with the country’s technologypolicy, Liaoning Province has also formulated relevant policies, but the R&D investmentof Liaoning Province is still a big problem. The development of different regions ofLiaoning Province is so different that we can’t treat them in the same way. LiaoningProvince can be divided into three parts.(Shenyang economic zone, the coastal economicbelt, northwestern areas) Through analysis,this essay tries to study more about theconditions of R&D investment and economic growth for the three parts, and find out thedifferent influence of the R&D investment on economic growth in different parts. So wecan make policies to improve our economic development.The data of R&D investment, GDP, Scientific and technological achievements for14regions from2003to2012in Liaoning province were used to do the research on theregional disparities of R&D investment influence on economic growth. The essayincludes five parts: Part1: Introduction, study background, purpose, meaning and studysummary at home and abroad are introduced; Part2: Basic concept and theory. In thispart, the meanings of economic growth and R&D investment have been expounded, atthe same time economic growth theory interaction mechanism of economic growth andR&D investment are analyzed; Part3:The situation of economic growth and R&Dinvestment in Liaoning province. Part4: The time series analysis based three regions.Part5: Policies and proposals of speeding up R&D investment to promote regionaleconomic growth. The major achievements of this research as followings:(1) As a whole, the influence of R&D staff investment on economic growth isstronger than the R&D funding investment. (2) On the sub-regional level, the highest output elasticity of R&D fundinginvestment is the northwestern area of Liaoning; the lowest area is the coastal economicbelt, and the middle of these is Shenyang economic zone. From the R&D staffinvestment, the output elasticity of the R&D investment of Shenyang economic zone ishigher than the coastal economic belt. And the northwestern of the Liaoning provincehave not formed a reasonable investment mechanism.(3) From the results of the Granger causality, the R&D funding and the economicgrowth have formed a perfect interaction in the northwestern of Liaoning province, whilethe other two economic zones did not form a significant causal relationship.