Research On The Relationship Between Innovation Investment,government Support And Regional Innovation

The endogenous economic growth theory holds that innovation is the internal source and inexhaustible driving force of economic growth.In recent years,the economic development mode at the cost of capital input and resource and environmental consumption has been unable to meet the needs of China's sustainable and healthy economic development.Optimizing the economic structure and transforming the kinetic energy of development have become the key steps and important means of sustainable economic development in China.The implementation of the innovation-driven development strategy is of great significance to China's economic transformation and development.Regional innovation is an important part of the national innovation system.It is a multi-stage process from the input of innovation elements to the output of innovation results and the transformation of some results.Innovation input is the fundamental driving force for regional innovation.However,because innovation has strong positive externalities and high-risk characteristics,innovation development requires government participation.At present,due to the accumulation of factors such as geographical factors,resource endowments,and policy orientation,there is a problem of imbalance in innovation and development among regions in China.At the same time,the spillover effect of innovation makes the differences in regional innovation in China more prominent.Therefore,this paper is dedicated to revealing the development characteristics of regional innovation in China,and clarifying the relationship between innovation investment,government support and regional innovation.This helps to correctly understand the level of innovation development and interaction in China's provinces.It can provide theoretical reference for optimizing the allocation of innovation resources and government support,and reducing the imbalance of regional innovation.Firstly,the article reviews the literature on innovation input,government support,and regional innovation.According to the innovation value chain theory,regional innovation is divided into two stages: scientific and technological research and development and achievement transformation.At the same time,innovation investment is defined as R&D personnel investment and R&D funding investment.On this basis,the research hypotheses of regional innovation and the relationship between innovation investment,government support and regional innovation are proposed.Secondly,according to the theory of spatial econometrics,the spatial characteristics of regional innovation are analyzed with the help of spatial correlation analysis tools.We prove the existence of positive spatial correlation of regional innovation.Based on this,a regional innovation space econometric model is constructed and selected.Finally,using the provincial data of China from 2009 to 2018,the relationship between innovation input,government support and regional innovation is analyzed from the national perspective and the regional perspective,respectively.According to the empirical results,combined with the current status of regional innovation development in China and the development characteristics of various regions,we put forward countermeasures and suggestions for regional innovation development.Statistical analysis using provincial data in China from 2009 to 2018 found that:(1)From the national perspective: There is a clear positive spatial correlation in regional innovation in China.In the stage of research and development,the impact of R&D personnel investment on regional innovation is U-shaped.The relationship between R&D funding and regional innovation is inverted U.Government support has the same effect.In the transformation stage,government support has the most significant effect.It has a non-linear effect on regional innovation(inverted U shape).(2)From the regional perspective: There is disorderly competition in innovation in most regions,and the development of regional innovation in surrounding areas will affect the region's innovation improvement.In the eastern,central and western regions,the impact of R&D personnel input,R&D funding input and government support on regional innovation at innovation different stages is different,and most of them have non-linear effects.Therefore,we should reasonably grasp the level of innovation input and government support,and formulate differentiated management mechanisms and innovation development strategies based on regional characteristics.At the same time,we must make good use of the spatial characteristics and competitive effects of regional innovation.While accelerating the improvement of regional innovation capabilities,it will change the current imbalance in the development of regional innovation in China and achieve balanced development of economic and social.