Research On The Impact Of Technological Innovation On The Quality Of Economic Growth

In recent years,Chinese economy has entered a new normal,the macro economy has shifted from high-speed growth to medium-high-speed growth,and began to pursue the quality and efficiency of economic growth.Improving the quality of economic growth is the theme of Chinese future economic growth.The growth of the Chinese economy in the first 30 years is mainly based on quantity catching up.However,behind the rapid growth,problems such as environmental degradation,overcapacity,and insufficient effective demand have affected the sustainable potential of future economic growth.The traditional economic growth model is no longer adapted to the development of the national economy,and it is urgent to move from factor-driven to innovation-driven.Technology is an endogenous source of economic growth,and innovation in the technology sector is particularly important for improving the quality of economic growth.Technological innovation will have an impact on the quality of economic growth.What kind of path does technological innovation affect the quality of economic growth? Further research is needed to verify it.In this context,this paper studies the mechanism of the impact of technological innovation on the quality of economic growth from a theoretical and empirical perspective,and further clarifies the relationship between technological innovation and the quality of economic growth,which is of great significance to promote the high-quality growth of Chinese economy.This paper follows the logical system of theoretical analysis,empirical test and policy research,adopts the research method combining normative research and empirical research,and studies the specific influence path of technological innovation on the quality of economic growth on the basis of the connotation of economic growth quality,hoping to further enrich the research in this field.Specifically,in the part of theoretical analysis,the connotation of economic growth quality is firstly elaborated in a narrow sense and in a broad sense,and the definition of economic growth quality in this paper is given through the carding and analysis of a large number of scholars' research results.Secondly,refer to relevant theory and consult a lot of literature of technological innovation and economic growth and technological innovation and economic growth quality,as a theoretical basis,respectively from the economic growthquality of five dimensions: the efficiency of economic growth,the stability of economic growth,the structure of economic growth,welfare changes and distribution of results in economic growth,the ecological environmental costs of economic growth,to explore the mechanism of technological innovation on the quality of economic growth,and put forward five research hypotheses.Then,this paper constructs an evaluation index system of technological innovation and an indicator system of economic growth quality for the research samples.The envelope analysis method(DEA-C^2R model)measures the technological innovation,and uses the principal component analysis method to measure the economic growth quality index and the index of these five aspects of the economic growth quality,laying the foundation for the subsequent empirical analysis;The empirical test part adopts fixed-effects model to verify the impact of technological innovation on the quality of economic growth and the five dimensions of the quality of economic growth,and use the system GMM estimation method to test the robustness of the empirical results.The study found that:(1)Technological innovation has a positive impact on the quality of economic growth,mainly through improving economic growth efficiency,promoting the optimization and upgrading of economic growth structure,promoting the balanced distribution of economic growth welfare and results,and protecting the ecological environment of economic growth.Although technological innovation is not conducive to the stability of economic growth,the overall positive effect is greater than the negative impact,so technological innovation can promote high-quality economic growth;(2)Technological innovation is conducive to improving the efficiency of economic growth,mainly through optimizing the combination of factors,improving the productivity of factors and improving the quality of factor production(3)Technological innovation promotes the optimization and upgrading of the economic growth structure because technological innovation can drive the industrial structure to be rationalized and advanced;(4)Technology innovation drives The balanced distribution of economic growth welfare and outcomes is because technological innovation can drive capital flows to the technical labor class,reduce the relative income ratio of capital owners,narrow the income gap between members of society,and increase farmers' income through technological innovation in agriculture,narrow the income gap between urban and rural areas;(5)Technological innovation is conducive to protecting the ecological environment of economic growth and reducing the cost of ecological environment.It is to improve the efficiency of resourceallocation,make full use of existing resources and use high technology to develop new energy,and improve enterprises.Production methods and treatment of energy-saving and environmentally-friendly technologies for pollution emissions;(6)Technological innovation is not conducive to the stability of economic growth,the fundamental reason is that the domestic technical level is not high enough,and the need to introduce foreign high and new technologies is easily affected by the cyclical economic fluctuations of developed countries,and the mismatch between low-skilled Labour and high-tech products creates structural unemployment.Based on the above research conclusions,the policy recommendations proposed in this paper are as follows :(1)Establish the consciousness of innovation and the concept of quality.To strengthen the understanding of the quality of economic growth,reversing the past measurement standard of only GDP;Improve the initiative of innovation,stimulate the vitality of independent innovation.(2)Increase capital investment in technological innovation.We should establish and improve enterprise innovation funds and give full play to the guiding role of government funds.(3)Strengthen the cultivation and construction of technical innovation talents.We should make innovations in personnel training models,strengthen leading talents,core technology research and development personnel training and innovation team building.(4)Promote the coordinated development of interregional innovation capacity.We should accelerate and encourage technology transfer from economically developed areas to backward areas,and the government will implement appropriate technology transfer policies.