The Impact of Technology Innovation and Technology Standardization on Economic Growth - An Empirical Study of China

Based on the results of previous studies, this paper choosing stock of patents indicator as a measure of technology innovation, choosing stock of technology standards indicator as a measure of technology standardization, and incorporating the amount of total fixed asset investment, the total number of employees, patents and technology standards into Cobb-Douglas production function, pooling macroeconomy data of China from 1985 to 2007, conducts research on the impact of technology innovation and standardization on the economic growth of China. The result indicates it has significant econometric relationship between patens and technology standards. For every 1% change in the amount of total fixed asset investment, the output changes 0.069%, for every 1% change in the stock of patents, the output changes 0.3036% and for every 1% change in the stock of patents, the output changes 0.5225%.