A Study On The Relationship Between R&D Expenditure And Economic Growth

After nearly 40 years of reform and opening up,China’s economy has achieved rapid development.However,this mode of economic growth is a serious problem.China’s economic growth is mainly dependent on investment-driven growth,has brought many problems,such as excessive energy consumption and environmental pollution.The irrationality of the economic growth mode seriously restricts the sustainable development of the economy.How to change the mode of economic development,to find new economic growth point has become an urgent problem to be solved.Science and technology are primary productive forces.Many scholars’ results show that,science and technology play a more and more important role in economic growth.Research and development activities are at the core of the entire scientific and technological activity and the core force of technological progress.Therefore,this paper first examines the relationship between the size and structure of economic growth and the economic growth,and further analyzes the impact of government and enterprise R&D expenditure on economic growth.It is found that with the rapid development of science and technology,the research methods and research methods are also improving.Because science and technology have the attributes of public goods,this paper studies how science and technology can be more efficient from government or enterprise production from the perspective of optimal resource allocation,in order to clarify the relationship between the government and the market,the market play a leading role in resource allocation.The main content of this paper include: the relevant literatures about the growth of science and technology are sorted out in chronological order in order to find out the evolving process of the research in this field.And briefly introduces the theoretical research on the contribution of technological progress from endogenous variables to economic growth.Through the comparative analysis of R&D expenditure and other countries,it is found that the R&D expenditure intensity is not enough and there are some problems in the structure.Through the empirical analysis,the relationship between R&D expenditure scale and economic growth is investigated.Secondly,the relationship between R&D expenditure and economic growth of different structures is analyzed and compared based on gray relational analysis.Finally,through the comparative analysis,the government and enterprise R&D expenditures on economic growth impact differences.The main conclusions of this paper are as follows:1.China’s R&D expenditure scale is increasing year by year,but compared to developed countries,the R&D expenditure intensity is low.There is a long-term and stable equilibrium relationship between R&D expenditure and economic growth.R&D expenditure can promote economic growth remarkably.2.The R&D expenditure from government funds has the highest correlation with economic growth,while the R&D expenditure from enterprise funds has the lowest correlation with economic growth,which indicates that R&D funds use efficiency and utilization degree are low.Research institutions and economic growth of the highest degree of correlation,followed by institutions of higher learning,the lowest correlation with economic growth is the enterprise.The correlation between R&D expenditure and economic growth was the highest among the R&D expenditures,and the correlation between R&D expenditure and economic growth was the lowest.3.There is a long-term equilibrium between government and enterprise R&D expenditure and economic growth.In the long run,government spending on R&D will lead to higher economic growth.In the short run,R&D expenditures and R&D expenditures of government research institutions have a higher contribution to GDP,which is higher than the former.