Study on the relationship between technology standard、technological innovation and economic growth——theoretical model and empirical analysis
Hong Jiang
Abstract
Hong Jiang
Abstract
This paper proceeds research on the relationship between technology standard,technological innovation and economic growth from the theoretical viewpoint,and makes up theoretical model first,and then uses Johansen cointegration tests,Granger causality test and impulse response function,variance decomposition and other empirical methods based on VAR model.The result shows that there exists a long-term stable equilibrium relationship between technology standard,technological innovation and economic growth.Technological innovation can improve the level of technical standards,and the influence of technology standard to technological innovation is negative with hysteresis effect.Technological innovation and technology standard can promote economic growth effectively in the long run,furthermore,technological innovation is essential power to promote economic growth.Economic growth has an inapparent effect on technological innovation,a long-term stable positive impact on technology standard by contraries.
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This paper proceeds research on the relationship between technology standard,technological innovation and economic growth from the theoretical viewpoint,and makes up theoretical model first,and then uses Johansen cointegration tests,Granger causality test and impulse response function,variance decomposition and other empirical methods based on VAR model.The result shows that there exists a long-term stable equilibrium relationship between technology standard,technological innovation and economic growth.Technological innovation can improve the level of technical standards,and the influence of technology standard to technological innovation is negative with hysteresis effect.Technological innovation and technology standard can promote economic growth effectively in the long run,furthermore,technological innovation is essential power to promote economic growth.Economic growth has an inapparent effect on technological innovation,a long-term stable positive impact on technology standard by contraries.
Key concepts: Technological change, Economics, Variance decomposition of forecast errors, Granger causality, Cointegration, Innovation economics, Vector autoregression, Econometrics