Research on the mechanism of R&D investment in Chinese industrial enterprises on economic growth
This article is based on the decision model analysis of enterprise R&D innovation,pointing out the mechanism of how enterprise R&D investment brings innovation patent output,and then drives economic growth through new product sales revenue.An empirical analysis is conducted using provincial-level panel data on R&D investment,patent applications,new product sales revenue,and industrial economic growth of China's large-scale industrial enterprises from 2014 to 2022.The research shows that:firstly,R&D investment by enterprises significantly promotes the output of innovation patents;secondly,enterprise innovation pa-tents significantly promote new product sales revenue;thirdly,the significant increase in sales revenue of new products by enter-prises promotes industrial economic growth;fourthly,innovation patents and new product sales revenue of enterprises significantly improve their total factor productivity.The above research conclusions contribute to a more comprehensive and correct understand-ing of the role of enterprise R&D in promoting economic growth.They have theoretical and practical significance for further adhe-ring to the main position of enterprise R&D innovation,more effectively protecting patent rights,encouraging enterprises to launch new products to promote the improvement of total factor productivity,and ultimately driving the realization of effective improve-ment in quality and reasonable growth in Chinese economy.
NETL
NSTL
万方数据
