Study on Relationship between R&D Expenditure and Economic Growth of China
R&D provides impetus for science and technology, which plays an essential role in Chinese economic growth. But R&D expenditure in China is lower than other countries although it grows rapidly which is above 15% since the 2000s. The aim of this paper is to explore the relationship between R&D expenditure and GDP by means of unit root tests, co-integration model and granger causality test. The empirical study of this paper shows that R&D expenditure and GDP from 2000 to 2007 are co-integrated, which means a long-run relationship really exists. The conclusion of this paper is, in detail, the elasticity of R&D to GDP is 0.9243 which means the growth rate of GDP will increase 0.9243% if the R&D expenditure increases 1%.According to our analysis, Chinese government should increase the R&D expenditure continuously to foster the economic growth.
Li Peng
Zhengzhou Institute of Aeronautical Industry Management,Zhengzhou,P.R.China,450015
国际会议
The 7th International Conference on Innovation and Management(第七届创新与管理国际会议 ICIM 2010)
武汉
英文
1725-1728
2010-12-04（万方平台首次上网日期，不代表论文的发表时间）