Impact of Technological Innovation on the Yangtze River Delta Region's Economy Based on a Quantile Regression

Zeyao Li ()
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Zeyao Li: Saint Louis University

A chapter in Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), 2023, pp 507-525 from Springer

Abstract: Abstract Although the Yangtze River Delta region has an extremely high degree of scientific and technological innovation, its contribution to GDP is not known. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, which is the new specialized of GDP. The differences in the effects of technical innovation at various GDP levels have not been taken into account in much research. We investigate the effect of technical innovation on GDP in various contexts. This study creates a technological innovation index by first using the principal component analysis approach to minimize the dimension according to the number of patents, innovations, individuals working in scientific and technological innovation, and the price of such research and development. Then, to examine the effect of technical innovation on GDP, we created an OLS model and a quantile regression model that took into account time and regional fixed effects. Finally, a robustness test is performed to demonstrate a consistent outcome.

Keywords: Technological innovation; GDP; Quantile Regression (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-142-5_58

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DOI: 10.2991/978-94-6463-142-5_58

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