R&D input and economic growth in Tibet Autonomous Region: an empirical study based on cointegration and VECM

Authors

  • Miaomiao Su
  • Wenxia Zheng

DOI:

https://doi.org/10.54691/bcpbm.v50i.5654

Keywords:

R&D; Economic Growth; VECM.

Abstract

In this paper, the VECM model was constructed and analyzed by impulse response analysis and variance decomposition through smoothness test and Johansen cointegration test,then concluded that:The time series of lnGDP and lnRD are smooth of the same order and there is a long-run equilibrium relationship between them. lnRD has an elasticity of 0.767 with respect to lnGDP.lnGDP exerts a positive effect on both itself and lnRD, and lnRD has a positive effect on both itself and lnGDP.And the forecast variance of lnGDP is explained by lnGDP and lnRD together, but the contribution of lnGDP itself is higher; the forecast variance of lnRD is composed of lnGDP and lnRD together, but lnGDP is the main influencing factor.Therefore, each  body in Tibet should pay attention to science and technology innovation, increase R&D investment, and contribute to the formation of scientific research achievements through the cooperation between industry, university and research, which in turn feeds local economic growth.

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Published

2023-09-22

How to Cite

Su, M., & Zheng, W. (2023). R&D input and economic growth in Tibet Autonomous Region: an empirical study based on cointegration and VECM. BCP Business & Management, 50, 390-398. https://doi.org/10.54691/bcpbm.v50i.5654