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| Research on the Impact of Government Investment on the Innovation and Development of High-Tech Industries |
| CHEN Guangliang，LUO Chuanjian |
| Huazhong University of Science and Technology, Wuhan, China |
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Abstract Based on the panel data of high-tech industries in 28 provinces of China from 2009 to 2020, the impact of government investment on the innovation and development of high-tech industries is studied by using measurement methods such as fixed effect, threshold panel regression and intermediary effect model. It is found that the impact of government investment on the innovation and development of high-tech industries has an inverted U-shaped relationship, and the innovation path has heterogeneity on the effect of government investment on the innovation and development of high-tech industries. Independent innovation has a single threshold effect on the effect of government investment on the innovation and development of high-tech industries, and the positive effect is small below the threshold and increases above the threshold. As an action mechanism of government investment to promote the innovation and development of high-tech industries, independent innovation has a significant intermediary effect. The threshold effect and intermediary effect of imitation innovation on the innovation and development of high-tech industries are not significant. Regional economic strength has heterogeneity in the effect of government investment on the innovation and development of high-tech industries.
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Received: 09 August 2021
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