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The Innovation Arena: A Method for Comparing Innovative Problem-Solving Across Groups
Published on: May 13, 2022
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Basic research investment, innovation capability improvement, and economic growth efficiency
Yichen Jiang1, Bin Xu1, Li Fang1
1Zhejiang Science and Technology Information Research Institute, Hangzhou, China.
Plos One
|December 13, 2022
Summary
Increased basic research investment boosts regional economic growth efficiency, particularly after income thresholds are met. Human capital development is a key pathway for this economic impact.
Area of Science:
- Economics
- Innovation Studies
- Regional Science
Background:
- Economic growth efficiency is crucial for regional development.
- The role of basic research investment in economic growth requires further investigation.
- Understanding the pathways through which basic research impacts economies is essential for policy.
Purpose of the Study:
- To analyze the relationship between basic research investment and regional economic growth efficiency in China.
- To explore the influence path of basic research investment on economic growth.
- To identify potential threshold effects and mediating factors.
Main Methods:
- Panel data analysis of 31 Chinese provinces from 2009-2019.
- Application of fixed-effects model to assess the impact of basic research investment.
- Utilized threshold effect and mediating effect models to examine influence paths.
Main Results:
- Basic research investment positively influences regional economic growth efficiency with an inverted U-shaped effect.
- A significant threshold effect was observed: investment impact increases when per capita income surpasses a certain level.
- Human capital improvement mediates the positive relationship between basic research investment and economic growth efficiency.
Conclusions:
- Strategic investment in basic research is vital for enhancing regional economic growth.
- Policies should consider income thresholds to maximize the benefits of basic research investment.
- Focusing on human capital development is a key strategy to leverage basic research for economic advancement.
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