Is there Inertia Development in the Impact of Innovation Drive on Economic Growth? Take 44 Countries as Examples

ZHAO Juan

Volume 36 Issue 5

Nov. 2021

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ZHAO Juan. Is there Inertia Development in the Impact of Innovation Drive on Economic Growth? Take 44 Countries as Examples[J]. Journal of Guangdong University of Finance & Economics, 2021, 36(5): 52-60.

Citation:

ZHAO Juan. Is there Inertia Development in the Impact of Innovation Drive on Economic Growth? Take 44 Countries as Examples[J]. Journal of Guangdong University of Finance & Economics, 2021, 36(5): 52-60.

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Is there Inertia Development in the Impact of Innovation Drive on Economic Growth? Take 44 Countries as Examples

ZHAO Juan

School of Management, Henan University of Traditional Chinese Medicine, Zhengzhou 450046, China

Received Date: 2021-01-25
Available Online: 2021-11-11
Publish Date: 2021-09-28

Abstract

Abstract

Innovation-driven development is a subject all over the world.Based on the data of 44 countries from 1993 to 2018, the panel VAR model is used to empirically test the interaction between innovation drive and economic growth, and to compare and analyze the difference between the impact of labor drive and investment drive on economic growth and the impact of innovation drive on economic growth.It is found that in the world, innovation drive is not characterized with inertial development, and there is no Granger causality between innovation drive and economic growth, but the two have short-term interactive effects; there is a two-way Granger between labor drive and economic growth causality, and a one-way Granger causality between investment drive and economic growth; the short-term interaction contribution rate between innovation drive and economic growth is far weaker than the interaction contribution rate between labor drive, investment drive and economic growth. The findings are of practically significance in the implementation of China's firm innovation-driven development strategy and the active construction of a positive interactive relationship between innovation and economic growth.
- economic growth,
- innovation drive,
- labor drive,
- investment drive,
- world economy,
- economic development

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References(27)

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