Chinese and US S&T Innovation Policies and Their Effects on Economic Growth Potentials

Since the eruption of the recent global financial crisis, major countries have been pushing forward structural reforms with science and technology （S＆T） innovation at the heart. Since taking office, US President Donald Trump has adopted an ＂America First＂ strategy but has yet to specify a clear S＆T innovation policy. However, Trump＇s current policies have already affected S＆T innovation and his planned budget cuts will impact US growth potentials. Compared with the US, China is steadily implementing its innovation-driven development strategy with significant improvement in S＆ T innovation that increasingly supports economic growth. To spur future economic growth, China should steadfastly follow its S＆T innovation strategy, promote the utilization of S＆T innovation results, boost its economic growth potentials and make the most of global innovation resources.

Evolution of Growth Model and Cultivation of Competitive Advantages Under the Ambidextrous Innovation Strategy: In the Case of China’s High-Tech Enterprises

This study focuses on the evolution of growth model and cultivation of competitive advantages under the ambidextrous innovation strategy.After a brief introduction of the connotation of ambidextrous innovation strategy,the evolution of growth model of high-tech enterprises under the conventional strategy and the ambidextrous innovation strategy is analyzed.Furthermore,a discussion is made on how to cultivate enterprises’competitive advantages under the ambidextrous innovation strategy,thereby enabling enterprises to stand out from competitors under this new strategic model and truly achieve the goal of sustainable development.

Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches

This study examined the relationship between financial innovation and economic growth in Bangladesh,India,Pakistan,and Sri Lanka for the period Q11975 to Q42016.The autoregressive distributed lag(ARDL)bounds test was used to gauge long-run relationships,and the nonlinear ARDL(NARDL)test was used to explore asymmetry between financial innovation and economic growth in the sample of Asian countries.The findings from the bounds tests revealed long-run cointegration between financial innovation and economic growth in the sample countries.Furthermore,NARDL confirmed that positive changes in financial innovation linked positively with economic growth and vice versa in the long run.In the short run,however,the study found mixed behaviors in the case of positive and negative changes in financial innovation.To investigate directional causality,the Granger causality test under an error correction model was employed.The Granger causality results supported the feedback hypothesis in both the long run and short run.Thus,financial innovation boosts economic growth in the long run by stimulating financial service expansion,financial efficiency,capital accumulation,and efficient financial intermediation,which are essential for sustainable economic growth.

Financial innovation and economic growth in Bangladesh

Background:This study provides evidence for the financial innovation in the financial system that resulted in the economic growth of Bangladesh from 1980-2016.Methods:To capture the influence of financial innovation on economic growth,we estimated the long-run cointegration by applying Autoregressive Distributed Lag(ARDL)bound testing and Granger causality-based Error Correction Model(ECM)to capture the directional association.Results:The Test of Cointegration satisfied the existence of a long-run association between economic growth and the financial innovation proxies,which were the Domestic Credit to the Private Sector(DCB)as a percentage of the Gross Domestic Product and the Broad-to-Narrow Money(M2/M1)as a percentage of the Gross Domestic Product.Our results showed that in the long run,credit circulation to the private sector and monetary management play important roles in economic growth.We also found that the coefficients of the financial innovation proxy variables were positive and statistically significant both in the short run and long run.We also ran Granger causality tests to investigate the directional effect.This study confirmed the feedback causality between the economic growth and 2 proxies of financial innovation in the short and long run.The gross capital formation and trade openness contribute significantly to explaining the economic growth in Bangladesh.Conclusion:The government of Bangladesh should encourage financial innovation in the financial system,especially at financial institutions,so that access to financial services can easily provide for equitable development.The government should also encourage financial innovation in the capital market,which will assist in raising longterm capital for investment and expedite overall economic growth.

The Spillover Effect of Innovation on Economic Growth: Leader Effect vs. Peer Effect

Innovation contributes to the long-term economic growth.From the perspective of externality by innovation,this paper disentangles the spillover effect based on the regions’abundance of innovation resource and separately identifies the“leader effect”and“peer effect”of innovation spillover and discusses their economic consequences.Empirical results demonstrate a negative spillover effect from innovation leaders on the economic growth and a positive spillover effect from innovation peers.Robustness checks also support main findings.This study has implication both in the endogenous economic growth theory and industry innovation practice.

Research on the Impact of Innovation Drivers on the Quality of Economic Growth in China

The quality of economic growth is a prominent issue in the process of economic growth worldwide.This paper builds relevant econometric models and uses the provincial panel data from 2003 to 2015 to analyze the impact of innovation drivers on China’s economic growth.The empirical results show that technological innovation and institutional innovation have a significant role in promoting the quality of China’s economic growth,and the effect of institutional innovation is stronger than that of technological innovation.In terms of regions,the innovation driver has the greatest contribution to the quality of economic growth in the eastern region of China,with the western and central parts ranking second and third.However,the role of institutional innovation in the eastern region is prominent,and the role of technological innovation is weak.Only institutional innovation in the central region has a significant role in promoting the quality of economic growth.Only technological innovation in the western region has a positive effect on the quality of economic growth,and the impact is weak.The regional differences in the impact of innovation-driven economic growth are obvious.

Empirical Research on Scientific and Technical Innovation and Economic Growth in Shanghai

With the explosive growth of knowledge and the further improvement of economic globalization, technology gradually represents its greater significance as the core factor of the strategic resources and competence for national and regional development, which becomes a greater support to the construction of the innovative country and also a key to take the initiative to develop. Under this tendency, technological improvements should play a more important role in pushing the economy forwards, which brings higher requirements for technical development in Shanghai. Thus Shanghai must integrate and utilize the resources of new technology in a more comprehensive way. During the process of building up a well-off society as well as innovative regions in an all-around way, the demand for technological innovation is continuously increasing and its content, as to Shanghai, is undergoing further fulfillment. The study on the inner connection between Shanghai technological development and economic growth, thus under such background, means much to get a knowledge about the dynamic equilibrium relationship between technical progress and economic growth, which can be taken as an important reference for the government to draw up the plan for future technological development.

Innovation as Force for Economic Development

The fierce business competition overcomes the inertia of obsolescence of organizations,leading them to a constant search for improvement and cost reduction in their processes to offer products and services differentiated from the competition,with the use of business strategies based on technological innovation.In this way,innovation is one of the strategies most pursued by companies that understand that through the gain of market share,they achieve better financial results for themselves and contribute directly to the economic development of the nation.In this search for overcoming its position in the ranking in which they operate,companies,through the emphasis given to innovation applied to the Industry 4.0,appropriate more skilled labor,either to obtain resources for their productive machine to function,or to bring the best ideas to the market,and thus achieve higher levels in the competition.In this way,results show that it is possible to infer that,by demanding the levels of qualification of the individuals for higher skill levels,innovation contributes to increase the rates of employability and,consequently,to become one of the driving forces of economic development.

Factor Price Distortion,Technological Innovation,and High-Quality Economic Development

The entropy method is used to measure the high-quality economic development levels of 30 provinces(autonomous regions,municipalities)in China from 2011 to 2020,and the impacts of factor price distortion,technological innovation,and their interaction terms on high-quality economic development are analyzed based on Tobit regression.The results show that highquality economic development of 30 provinces(autonomous regions,municipalities)in China is on the rise;factor price distortion has an inhibitory effect on high-quality economic development,while technological innovation has a promoting effect on high-quality economic development,and both of them have a lag effect;technological innovation level can help alleviate the negative impact of factor price distortion on high-quality economic development;and sub-regional research shows that the inhibitory effect of factor price distortion on highquality economic development in the east is significantly higher than that in the central and western regions,but the positive effect of technological innovation and the interaction terms between the two on high-quality economic development is significantly lower than that in the central and western regions.Accordingly,it is proposed to optimize top-level design for the two-wheel drive for high-quality economic development,strengthen the primary role of enterprises in innovation to promote high-quality economic development,and optimize the market-oriented allocation of factors to improve the efficiency of resource allocation.

Innovation Path for Large Countries:Chinese Experience from Economics Perspective

Over the past four decades, China has achieved prosperity in economics as well as economic development. Without doubt, China's experience offers inspirations to economic theories. In this paper, we attempt to identify the theoretical implications of China's growth journey. By casting light on China's innovation path, this paper presents a coherent theoretical framework of economic principles to answer the following questions: How did China as a large country form its innovation advantages by virtue of its market size? Why did China as a late-moving country choose imitative innovation in catching up with other countries? How did China develop its own innovation advantages during its economic transition? In developing a system of economic discourse for China's innovation path, it is necessary to take stock of China's economic history and international experiences in relation to the wisdom of economic philosophies.

Online Fashion Retailer Bonobos Selects Gerber Technology's YuniquePLM^(TM) Industry-Tailored Software to Support Rapid Growth and Fast-Paced Product Innovation

Tolland,Connecticut,USA-Gerber Technology,a business unit of Gerber Scientific, Inc.(NYSE:GRB) and a world leader in automated CAD/CAM and PLM solutions for the apparel and flexible materials industry,announces that fast-growing internet retailer Bonobos,Inc. has selected the YuniquePLM product

Impact of natural resource mining on sustainable economic development:The role of education and green innovation in China

As the extraction and usage of natural resources continue to be a double-edged sword-supporting economic growth but deteriorating the environment-we study the impact of natural resource mining on sustainable economic development in the largest(PPP)economy-China.We use province-level data from 2001 to 2020 and employ econometric panel techniques,such as fixed effects,two-stage least squares,and a battery of robustness tests.We further explore the potential effects of education and green innovation in mitigating/exacerbating the role of natural resources in the Chinese provincial economy.The results show that:(1)Natural resource mining hurts sustainable development,verifying the“resource curse”effect.(2)Green innovation and education restrain the negative impact of resource mining on sustainable development,turning the curse into a blessing.(3)A regional heterogeneity is observed in the impact of resource mining on sustainable development,showing more significant effects in the Western and low-urbanized regions.(4)Green innovation and education can assuage the curse effect of natural resources into gospel effect.Policy implications and recommendations are proposed in light of the findings to promote sustainable economic development in China.

Technology Gaps, Resource Allocation and Economic Growth of Large Late-starting Countries

In the evolution of economic growth drivers, technology gaps are a key variable that determines the efficiency of resource allocation. Analysis of an optimal resource allocation path based on an extended endogenous growth model reveals that economic growth drivers evolve from productive investment to R＆D investment and a shift from imitation to innovation. Empirical analysis based on China＇s provincial-level panel data suggests that the effect of productive investment and R＆D investment, as well as innovation and imitation, on economic growth and technological progress varies greatly among regions of disparate technology levels. As a late-starting country, China should properly allocate resources between productive investment and R＆D investment, and between imitational investment and innovative investment while advancing the transformation of economic growth patterns on a differentiated basis in light of regional technology disparities.

An Innovative City： Impact of Innovations on City Development

The process of innovative development is stimulated by cities as centers of accumulated （regional） growth and innovative enterprises as elements of urban space. Cities stimulate innovations by creating a specific demand for innovations and innovative products as well as specific incentives such as preferable conditions for creation, accumulation, usage, and exchange of knowledge and information. Diffusion of ideas has an impact on changes in environment resulting in increase in dynamics of innovation, which means possibilities of innovative development for local firms. The paper highlights the idea of an innovative city with respect to the impact of innovations on city development. The concept of an innovative city is not clearly defined because the interpretation of innovation is differentiated and ambiguous except for common denominator of the novelty. The paper underlines the role of city＇s environment for innovations＇ creation acting as an incubator for clusters of firms, particularly those engaged in the process of high-tech involvement （technology parks）. The option of an innovative city approach presented here is the author＇s view on an innovative city＇s growth and it is based on the role of synergic interaction between innovative firms as elements of a city space and an innovative city itself.

油气企业科技创新人才价值溯源分成评估

科技创新是发展新质生产力的核心力量,而科技创新人才是创新过程中的第一要素。作为油气生产的主要参与主体,油气企业要实现高水平科技自立自强,归根结底要依靠拥有高水平创新能力的人才队伍。为了激发科技人才创新活力动力,在人才价值创造与评估现状分析的基础上,依据生产全要素视角下的科技创新价值分享理论与方法,建立了油气企业科技创新人才价值溯源分成评估方法。研究结果表明:(1)油气企业科技创新是一个系统性的复杂过程,匹配油气企业科技创新特征、具有产业适应性的人才价值评估理论与方法较少;(2)油气企业科技创新人才价值溯源分成,是以油气科技创新成果经济价值评估结果为前提对参与成果创造的团队和个人按照实际贡献进行价值追溯与量化的过程,需要通过对单项科技创新成果经济价值溯源和科技创新成果完成人价值溯源两次溯源来实现;(3)以创新成果为导向的科技创新人才价值贡献率是人才价值溯源分成的核心参数,由完成人参与度、完成人创新度、完成人贡献度为内容的综合评估指标体系共同确定。结论认为,该方法为加快建立以创新价值、业绩、贡献为导向的人才评价体系提供了参考,能够有效解决人才在油气科技创新活动中的经济价值量化问题,对推动高水平科技自立自强有现实意义。

科技—产业—金融循环的逻辑解构与政策启示

推动科技—产业—金融良性循环是实现高水平科技自立自强和高质量发展的核心命题。在梳理科技—产业—金融循环理论源流和研究文献基础上,基于创新经济学基本原理,对科技—产业—金融循环的内在逻辑进行研究。在理论逻辑层面,研究科技—产业—金融循环的基本范畴和核心要义。在历史逻辑层面,从国际实践中提炼促进科技—产业—金融良性循环的价值匹配与互动规律,总结科技—产业—金融循环关系的新变化。在现实逻辑层面,挖掘制约我国科技—产业—金融良性循环的主要堵点与原因。基于此,面向建设金融强国,从深化改革、制度设计、资源支持、平台建设、创新服务、全球生态等方面提出启示建议。

财政分权对城市贸易经济韧性的影响及空间溢出效应研究

在中国经济迈入高质量发展的新阶段,面对复杂多变的外部环境,增强城市贸易经济韧性显得尤为重要。基于2006—2019年中国283个地级及以上城市面板数据,采用面板回归模型、中介效应检验方法及空间杜宾模型,探究财政分权对城市贸易经济韧性的影响及其内在机制。研究发现:财政分权能够显著增强城市贸易经济韧性,科技创新在其中起到了部分中介作用,上述结论经过稳健性检验后依然成立。空间杜宾效应分析表明,财政分权可通过空间溢出效应作用于邻近城市贸易经济韧性。进一步的异质性分析发现,财政分权对城市贸易经济韧性的促进作用存在区位和贸易经济韧性水平差异,在中西部地区及贸易经济韧性水平较低的城市中其作用效果越强。

长江经济带知识产权保护与城市绿色技术创新效率——基于创新价值链视角的空间效应分析

基于创新价值链视角,将绿色技术创新活动分解为科技研发和成果转化两个阶段,对2011—2020年长江经济带108个城市知识产权保护的绿色创新效应进行实证分析。结果表明:(1)知识产权保护对本地绿色技术创新总效率及其子阶段效率的直接影响均显著为正;空间效应结果表明,知识产权保护对科技研发效率存在正向空间溢出效应,对成果转化效率则具有负向空间溢出效应,但对总效率的空间影响效应依然为正。(2)强化知识产权保护能够通过吸引外商直接投资、促进金融发展、提高人力资本质量三种渠道促进城市绿色技术创新效率提升。(3)异质性分析表明,长江经济带下游城市强化知识产权保护有利于推动科技研发效率和成果转化效率的提升;而中上游城市加强知识产权保护对科技研发效率的提升作用并不显著,对成果转化效率甚至具有消极影响。本文结论为长江经济带推进知识产权保护建设和绿色技术创新发展提供了有益启示。

中国科技创新对旅游经济效率的空间溢出效应

运用改进熵值法和Bootstrap-DEA模型对2001—2019年中国30个省域的科技创新水平及旅游经济效率进行测算,利用空间自相关分析法考察科技创新与旅游经济效率的空间集聚特征,最后借助空间面板杜宾模型探究科技创新对旅游经济效率的影响及空间溢出效应。结果表明:①研究期内全国及四大地区科技创新水平增长势头强劲,增速形成“中部>东部>西部>东北”的空间格局,区域科技创新发展差异较大;30个省域旅游经济效率明显改善,增速呈现“东北>中部>西部>东部”的分布特征。②科技创新和旅游经济效率全局和局部空间关联性明显,并且主要表现为高高和低低的空间集聚模式;科技创新对本地旅游经济效率改善作用明显,但会通过“虹吸效应”和“屏蔽效应”抑制邻近省域旅游经济效率提升。③在科技创新能力增强过程中,经济发展水平、城镇化、产业结构升级、对外开放等要素是推动旅游经济效率提升的重要力量,旅游资源禀赋对旅游经济效率正向外溢效应显著,经济发展水平和城镇化的负向空间效应明显。

石家庄市县域科技创新与经济发展耦合协调关系时空演变

选取石家庄市13个县域单元作为研究区域,构建科技创新能力和经济发展水平评价指标体系,计算评价指数,测算两者的耦合协调度,使用ArcGIS绘制空间分布图,深入剖析科技创新能力、经济发展水平以及两者耦合协调关系的时空演变特征。研究发现:全市县域科技创新能力和经济发展水平呈现较强的正相关性,且都在2010—2017年间提升速度较快,而在2019年之后提升速度呈减慢的趋势。2010—2021年经济发展水平指数均高于科技创新能力指数,但后者提升速度高于前者,表明石家庄市各县域科技创新能力滞后于经济发展水平,但科技创新能力的发展势头较好。2010年以来,全市县域耦合协调度呈现上升趋势,但耦合协调度与科技创新能力和经济发展水平的变化趋势相似,即2018年之前的提升速度要快于2018年之后。2021年,全市县域耦合协调度等级为“勉强协调发展”,协调发展水平较低,有待进一步提升。