The Impact Of Technological Innovation Based On Entrepreneurial Tendency And FDI On The Economic Growth Of Developing Countries

The idea that technological innovation is an important driving force for a country's economic growth has been confirmed in the course of development of Western developed countries.Nowadays,there are more and more researches on technological innovation,and the scope is more and more extensive.In the past,research on technological innovation focused more on the technology category of invention and creation.Technological innovation gradually covered the content of entrepreneurship.That is,technological innovation is considered to include the creation of new technologies and new products,as well as commercialization.This paper proposes a new perspective of technological innovation and defines it as a technological innovation based on entrepreneurial tendencies.Considering that developing countries are the later countries for technological innovation,FDI plays a decisive role in its technological innovation.Therefore,this article studies the technological innovation and FDI of developing countries based on entrepreneurial tendencies,and explores their impact on economic growth and their mutual relations.In order to understand whether the developing countries have made full use of the technology spillover effects of FDI and to improve their technological innovation capabilities.This will provide a directional reference for sustaining economic growth in the developing world where the global economy is sluggish.This article analyzes the connotation of technological innovation and entrepreneurship through the analysis of existing literature,and defines technological innovation based on entrepreneurial tendencies.It also elaborates on the technology spillover effect and technological innovation of FDI,compares the differences in technological innovation models between developed and developing countries,and emphasizes the importance of FDI in developing countries to technological innovation.It aims to provide theoretical support for empirical analysis.Through the analysis of historical facts and lessons learned from international comparisons,the principal component analysis method is used to optimize technological innovation variables based on entrepreneurial tendencies.Then based on the double fixed effects model,the BRICS-based technology innovations based on entrepreneurial tendencies from 2009 to 2015 are analyzed.And empirical analysis of FDI and economic growth;further introduce interactive variables between the two to explore the relationship between the two.The results show that technological innovation based on entrepreneurial tendencies can promote economic growth,and FDI has weakened the impact of host country's technological innovation based on entrepreneurial orientation on its economic growth.It can be concluded that promoting the development of technological innovation in developing countries is conducive to sustaining sustained economic growth;at the same time,developing countries have weaker absorption capacity for FDI,and FDI technology spillovers have a negative effect on them.To improve the ability of technological innovation to promote economic growth should improve its ability to absorb FDI.Based on the above analysis,this paper proposes the following relevant countermeasures:Developing countries should vigorously support technological innovation,promote the common development of”innovation and entrepreneurship",increase R&D investment,step up linkages between industry,universities and research institutes,and provide a good environment for technological innovation and entrepreneurs.And policy support;emphasis on technological innovation and entrepreneurship education,training of the public's enthusiasm for innovation and entrepreneurship and entrepreneurship;increase the absorption of FDI technology spillover effects,such as improving the domestic financial market and improving domestic human capital.