An Empirical Analysis on Relationship between China's Governmental Public RD Investment and Independent Innovation

摘要

In this paper, the author applies co-integration analysis, Error correction model, Granger causality test to analyzing the relationship between China's pubic R&D and independent innovation. The results show that there is a kind of long-run equilibrium relationship between them. Governmental pubic R&D investment is the Granger reason for independent innovation. In the long run, governmental R&D investment may truly improve China's ability of independent innovation.