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Journal of Software Engineering
  Year: 2014 | Volume: 8 | Issue: 4 | Page No.: 387-398
DOI: 10.3923/jse.2014.387.398
Computing and Analysis of the Impact and Contribution of Science and Technology Investment on Regional Economic Growth: An Empirical Study Based on Annual Data in Fuyang City During 1997-2012
Ke-Rong Zhang and Wu-Yi Liu

Abstract:
The econometric error correction model was used to study the impact and contribution of the science and technology investment on local economic growth in Fuyang city in the northern of Anhui province, China. Analysis of the short-term fluctuations and long-run equilibrium correlation between the economic growth and the science and technology investment was done too in Fuyang city. It was found that there was a statistically significant correlation between the amount of the science and technology investment and the local economic growth from the point of view of the contribution and promoting elasticity coefficients, i.e., 0.171785 in the long term and 0.340016 in the short term. It was estimated that the regional growth of GDP in Fuyang city would be driven by 0.171785 in the long term and 0.340016 in the short term when the science and technology investment was increased by 1% according to the elasticity coefficients. Moreover, the index of potential promoting efficiency of the science and technology investment on the regional GDP was very remarkable with the Q statistic of 9.497250794. The present study indicated that the potential effect and contribution of promotion of the science and technology investment on local economic growth in Fuyang city was very huge.
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How to cite this article:

Ke-Rong Zhang and Wu-Yi Liu, 2014. Computing and Analysis of the Impact and Contribution of Science and Technology Investment on Regional Economic Growth: An Empirical Study Based on Annual Data in Fuyang City During 1997-2012. Journal of Software Engineering, 8: 387-398.

DOI: 10.3923/jse.2014.387.398

URL: https://scialert.net/abstract/?doi=jse.2014.387.398

 
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