TITLE:
R&D Investment and Matthew Effect in Economic Growth—An Empirical Study Based on Guangdong Province
AUTHORS:
Zhengyou Peng
KEYWORDS:
R&D, Economic Growth, Regional Differences, Matthew Effect
JOURNAL NAME:
Modern Economy,
Vol.10 No.3,
March
26,
2019
ABSTRACT: This paper uses the panel data of 21 cities in
Guangdong Province from 2005 to 2015 to construct a panel data model, and
empirically analyzes the impact of local R&D investment on economic growth
from two dimensions: spatial differentiation and time series. The results show
that the total social R&D investment in Guangdong Province has a
significant positive impact on economic growth; the impact of R&D
investment on economic growth in the more developed regions (Pearl River Delta)
and the less developed regions (other cities in Guangdong) is different. The
former is twice as large as the latter, and there are obvious inter-regional
differences. From the perspective of time, the gap is increasing, that is,
there is a “Matthew effect”. It is better for latter to invest more in
infrastructure construction, resource environmental protection, special
industry cultivation and human resource development than continuing to increase
R&D investment.