An Analysis of the Technological Innovation Effect of Government R&D Subsidy:Based on the Empirical Data of China in 2009-2021
Government R&D subsidies can not only affect technological innovation directly by providing public services,but also affect technological innovation indirectly by guiding social capital.The total effect depends on the direction and the size of the two effects.Based on the empirical data of China in 2009-2021,this paper establishes a dynamic model composed of the technological innovation equation and the induced equation,and conducts an empirical analysis on the technological innovation effect of government R&D subsidies.The results show that the increasing government R&D subsidy has brought about a steady increase in the number of domestic patents,and the technological innovation effect is more significant;Government R&D subsidies not only have a positive direct impact on technological innovation,but also have a positive indirect impact on technological innovation by guiding social capital to invest in the field of R&D;There are regional differences in the technological innovation effect of government R&D subsidies:The central and eastern regions are positive,while the western regions are negative.To improve the efficiency of fund use,to guide social capital to invest in technology research and development,and to improve the environment of R&D in less developed areas are undoubtedly the necessary choices to improve the technological innovation effect of government R&D subsidies.
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