Empirical Research on the Impact of Innovation Policy on Economic Growth
DOI:
https://doi.org/10.54691/bcpbm.v49i.5420Keywords:
Innovation policy, economic growth, regression model, policy design, social responsibilityAbstract
This study uses official websites such as the China Government Network as data sources, and takes innovation policies from 2012 to 2023 as samples, and summarizes the status quo of innovation policies from the three dimensions of policy tool types, policy theme characteristics, and policy elements. On the basis of putting forward the research hypothesis that innovation policy can promote economic growth, and based on the provincial panel data from 2012 to 2020, this paper demonstrates the impact of innovation policy on economic growth. The empirical results show that innovation policy can promote economic growth by affecting the level of innovation and entrepreneurship, and the heterogeneity test is carried out from the two angles of urbanization rate and innovation policy effect, which further verifies that innovation policy can promote economic growth, and innovation in the eastern region The policy effect is greater than that in the central and western regions. Finally, this article summarizes the problems that exist in the current policy implementation process, and gives suggestions for further promoting economic growth from the perspectives of policy design, policy implementation, social responsibility, and social governance.
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