The Further Research on the Relationship between Applied Technology, Basic Science and Economic Growth
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| Title | The Further Research on the Relationship between Applied Technology, Basic Science and Economic Growth
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| Author | Zhou Xiaoliang and Lu Yuting |
| Organization | School of Economics & Management, Fuzhou University |
| Email | xlzfzu@163.com；luyuting0803@aliyun.com |
| Key Words | Science; Technology; Coupling Path; Economic Growth |
| Abstract | This paper divides knowledge into applied technology and basic science to improve Romer’s endogenous growth model. By solving the equilibrum solution of the growth model, we get three propositions, and to test them, we construct panel threshold model and cross-section regresstion model for empirical test. The main conclusions are as follows: 1. The coupling path of science and technology is mainly affected by two factors: the development gap and the coupling degreee between applied technology achievements and basic science achievement. 2. The difference of coupling path plays an important part in the process of structural change of the relationship between technology and economic growth. But the relationship between science and economic growth doesn’t. 3. In the technology-deviating coupling path, it should be human capital investment as the leading to improve economic growth, and taking the physical capital investment as the leading to improve the scientific growth rate. In the sci-tech neutral coupling path, it should take producing investment as the leading to achieve the capital to flow into the production sector to promote the effects of technology and science on economic growth. But in the science-deviating coupling path, it is hard to promote the science and technology. The only way to solve it is to realize the transformation of the coupling path. |
| Serial Number | WP935 |
| Time | 2015-10-23 |
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