The dynamic patent output elasticity of high tech industry in China

摘要

Purpose – The purpose of this paper is to explore the relationship between the patenting movement and economic growth by analyzing development states and raising possible questions of high-tech industries in order to provide lessons for policy makers. Design/methodology/approach – A model of polynomial distribution with lagging effect was applied to patenting data and economic operation data, including revenue from new products. Findings – Through three grouped investigations, namely: short term, medium term, and long term, it was found that innovation activities significantly influence positive economic growth in high-tech industries. However, total patent output elasticity (POE) in some high-tech industries is lower than in non-high-tech industries. Among the detailed sectors selected in this study, medical equipment and measuring instruments show higher POE. Originality/value – This paper focuses on an industry-level study of the relationship between the patenting movement and economic growth, which has important theoretical and practical significance to promoting high-tech industry innovation capability and enhancing the technological innovation competitive advantage of China.