Technology-Based Relationship between Innovation and Growth
Business and Information Management, 2008. ISBIM '08. International Seminar(2009)
Abstract
The economic effect of innovation, as one of the research focus in international innovation policy studies, are more and more frequently targeted on developing countries. This paper focuses on the innovation promotion impact to regional economic growth. The empirical study takes Guangxi district for an example to test the promotion impact by time serial analysis. All data covers the period of 1988-2005. Using patents application and GDP as proxy of innovation and regional economy, the empirical estimates reveal that increase in patenting leads to increase in economic growth for Guangxi district. The result shows that companies in the backward areas are inefficient patent application strategy and low patent transfer rates, and the innovation promotion impact to economic growth is more effective in short term than in long run. Western district in China should strengthen the degree of intellectual property rights (IPRs) protection, in order to create a legal environment that can stimulate more innovations.
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Key words
regional economic growth,economic effect,technology-based relationship,international innovation policy study,western district,promotion impact,innovation promotion impact,economic growth,empirical estimate,guangxi district,empirical study,intellectual property right,regional economics,innovation,developing country,time series analysis
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