An analysis of dynamic co-evolution between Private R&D expenditure for inducing innovation and export of New products : An evidence from Chinese high-tech industry

Park Sang Do; Bongsuk SUNG

doi:10.18013/jnar.2016.31.2.005

This article employs dynamic panel approach to test the effect of innovative Private R&D efficiency of policy on New product export in china high-tech industry. We use panel data for 14 high-tech industry in china for the period 2004-2014. Taking into account the results of panel framework analyses (e.g. normality, structural break, cross-sectional dependence, panel unit-root and cointegration tests), the panel vector autoregression (VAR) model in the first difference was used to test the causal relationship among the variables in question. To deal with the simultaneity problem introduced by differences and the existence of heteroskedasticity in the genuine error across countries, panel generalized method of moments (GMM) estimation were conducted, then on the basis of the difference in GMM estimation results, causality was determined by running Walt tests on the coefficients of variables. The results shows that there is long-run linear casual relationship between innovative Private R&D efficiency of policy and New product export in high-tech industry of the china, and that there is no short-run linear causal relationship running from innovative Private R&D efficiency of policy to export. Plus, the study reveals that there is not only shot-run linear bilateral relationship between New product export and GDP, GDP and innovative Private R&D efficiency but also existed dynamic path dependency.

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