Study On Economic Growth Driven By Innovation Of Science And Technology In Fujian Province

Economic growth has always been the focus problem researched by the economic circles, and also one of the overall objectives pursued by each country’s macroeconomic development. Since the reform and opening up, China’s economy has maintained an average annual growth rate of 9%, creating a world-renowned "China miracle." Among the many factors that drive economic growth, the progress and innovation of science and technology is undoubtedly one of the most important driving force, research on the relationship between science and technology innovation and economic growth has become a hot topic in modern economic and social research, having a very important practical significance, this is also the starting point of this paper.This paper chose the Fujian Province as a study area, and mainly researched the role of science and technology innovation driving economic growth in Fujian Province. First, this paper introduced the research status of the relationship between science and technology innovation and economic growth at home and abroad; defined the meaning of science and technology innovation and economic growth and combed the relevant classical theory, in order to sort out the theoretical context of the relationship between science and technology innovation and economic growth; described the mechanism of science and technology innovation driving economic growth, laid the theoretical foundation for the subsequent chapters. Secondly, analyzed qualitatively the level of science and technology innovation and the status it driving economic growth in Fujian province in recent years. Third, selected the historical data of 2000-2012, builded evaluation index system to evaluate the science and technology innovation capacity of Fujian Province and found that science and technology innovation capacity generally steadily rise up. Fourth, this paper used the correlation analysis, cointegration and Granger causality test to research the impact of science and technology innovation capacity in Fujian Province on the quantity and quality of economic growth. The study found:there is a significant positive correlation and long-term equilibrium relationship and also a two-way Granger causality between science and technology innovation and the number of economic growth (GDP), science and technology innovation has significant positive effect on the number of economic growth. Also there is a significant positive correlation and long-term equilibrium relationship between science and technology innovation and the quality of economic growth, but there is only one-way Granger causality between them, science and technology innovation is the Granger cause of the quality of economic growth, science and technology innovation promotes the improvement of quality of economic growth mainly by improving the efficiency of economic growth, optimizing the economic structure and improving the economic well-being. Finally, pointed out that currently there are insufficient investment, low conversion rate of science and technology achievements and other factors impeding economic growth driven by innovation of science and technology in Fujian Province,then proposed some targeted policy recommendations, in order to provide a reference for the government how to improve the science and technology innovation capability.