Title: Economic impact analysis of the science and technology investment's contribution to the regional GDPs in the northern central cities of Anhui province, China

Authors: Kerong Zhang; Wuyi Liu

Addresses: School of Economics and Management, Fuyang Normal University, Fuyang 236037, China ' Department of Science and Technology, Fuyang Normal University, Fuyang 236037, China

Abstract: ECM modeling and econometric tests were used to analyse the impact of science and technology investments (STIs) on economic growths during 1997-2013 in seven northern central cities of Anhui province, China. The correlations between local STIs and regional economic growths were found statistically significant in four of those northern cities of Anhui province. Empirical results estimated the impacts of STIs on GDPs were significant in four of these cities. Regional economic growth of GDP was elevated by 14.3391, 53.5197, 36.1417 and 17.0801% in the short terms, and adjusted by 17.4804, 128.5715, 53.0834 and 45.0429% in the long terms, while STIs were increased by 1% according to the estimated elasticity coefficients. Furthermore, the promoting efficiencies of STIs on GDPs were analysed according to the q statistics too. These results revealed that the potential impacts of local STIs on regional economic growths were significant in these four cities.

Keywords: ECM modelling; economic impact; GDP; science and technology investment.

DOI: 10.1504/IJTPM.2017.086379

International Journal of Technology, Policy and Management, 2017 Vol.17 No.3, pp.262 - 280

Received: 18 May 2016
Accepted: 17 Dec 2016
Published online: 04 Sep 2017 *

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