Analysis of the Impact of Science, Technology and Innovation on Economic Growth in the Pearl River West Economic Belt

Yongqi Chen

doi:10.30560/rfm.v5n1p1

Yongqi Chen School of Economics and Management, Guangxi Normal University, China

DOI: https://doi.org/10.30560/rfm.v5n1p1

Keywords: scientific and technological innovation, economic growth, economic belt

Abstract

Science and technology innovation has an important impact on economic growth. This paper summarises the relevant theories of domestic and foreign authors on the analysis of the impact of science and technology innovation on economic growth, and combines them with the reality of science and technology innovation on economic growth in the Pearl River West Economic Belt, and argues that there is a certain amount of science and technology innovation outputs in the Pearl River West Economic Belt, which, in turn, promotes economic growth. This paper empirically analyses the impact of STI on the economic growth of the Pearl River-West River Economic Belt by using the statistical data from 2000 to 2020 of the 11 major cities involved in the belt (i.e., Guangzhou, Foshan, Zhaoqing, Yunfu, Nanning, Liuzhou, Wuzhou, Guigang, Baise, Laibin and Chongzuo). The results show that the impact of S&T innovation on the economic growth of the Pearl River-West River Economic Belt is positively correlated, indicating that S&T innovation can promote the economic growth of the Pearl River-West River Economic Belt. And this effect is robust.

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