The Impact of Technological Innovation on High-quality Economic Development Based on Chinese Provincial Data

Abstract

Guided by the "New Five Development Concepts", this paper constructs an indicator system for high-quality economic development from the perspective of the effectiveness, coordination, innovation, sharing and sustainability of economic development, and analyzes the economic development of China's provinces from a provincial perspective. The entropy method is used to measure the comprehensive level of high-quality economic development in 30 provinces across the country from 2013 to 2019, and from the perspective of technological innovation, the technology market turnover is used to measure the basis of technological innovation, and a fixed effect model is established to reveal its relationship with economic high quality. The results show that: on the one hand, the overall level of high-quality development of China's economy is growing steadily, but there are obvious gaps between regions, and attention should be paid to shortening the gap between the rich and the poor to achieve more coordinated and comprehensive high-quality development; on the other hand, technological innovation can significantly promote the high-quality development of China's economy. We must continue to strengthen the core leading role of technological innovation, and promote technological innovation to serve the real economy. The government should formulate reasonable policies, implement environmental regulations to encourage enterprises to carry out technological innovation, and give full play to the driving effect of technological innovation on the high quality of the economy.