The Influence of the Flow of Scientific and Technological Factors on the High-Quality Development of Regional Economy

Bing Yang, Yan Long, Tingzhang Yang (), Wei Sun () and Chaofeng Shao ()
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Bing Yang: School of Economics and Finance, Guizhou University of Commerce, Guiyang 550014, China
Yan Long: School of Business Administration, Guizhou University of Finance and Economics, Guiyang 550025, China
Tingzhang Yang: School of Management Science and Engineering, Chongqing Technology and Business University, Chongqing 400067, China
Wei Sun: Institute of Geographic Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing 100101, China
Chaofeng Shao: College of Environmental Science and Engineering, Nankai University, Tianjin 300071, China

Sustainability, 2024, vol. 16, issue 22, 1-27

Abstract: In the new stage of China’s economic transformation from high-speed growth to high-quality development, scientific and technological factors have become the new driving force for the high-quality development of China’s economy. Therefore, how the flow of scientific and technological factors affects the high-quality development of regional economy is worthy of in-depth discussion. Based on the panel data of 30 provinces (municipalities and districts) in China from 2006 to 2019, this paper calculates the high-quality economic development index by constructing a comprehensive index system, and empirically examines the direct effect, spatial effect and threshold effect of the flow of scientific and technological factors (including scientific and technological talent factors and scientific and technological capital factors) on high-quality regional economic development. The results show the following: (1) The flow of science and technology talents and science and technology capital is the main driving factor for the high-quality development of regional economy, and the flow of science and technology talents and science and technology capital can play a complementary role. (2) High-quality regional economic development in China presents a certain clustering phenomenon in geographical space. The flow of scientific and technological talent elements and scientific and technological capital elements can stimulate the improvement of high-quality economic development in surrounding areas through the spatial spillover effect of high-quality economic development. (3) Only when the flow of science and technology factors is matched with a higher degree of financial structure and industrial structure can the flow of science and technology factors more effectively promote the high-quality development of regional economy. (4) The higher the level of industrialization and economic development, the more obvious the impact of the flow of scientific and technological talent factors and scientific and technological capital factors on the high-quality economic development. Meanwhile, the lower the degree of marketization, the more obvious the impact of the flow of scientific and technological capital factors on the high-quality economic development.

Keywords: scientific and technological elements; regional economy; high quality development; flow of scientific and technological capital factors; flow of factors of scientific and technological personnel (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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