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Economic Policy Uncertainty, Regional Economic Complexity and Innovation Behavior of Enterprises |
Lv Yiqing1,Ji Yuan2 |
(1.School of Economics, Sichuan University, Chengdu 610065,China;2.Scientific Research Office of Party School of Sichuan Provincial Party Committee, Chengdu 610017,China) |
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Abstract This paper constructs a panel data of "Macro-Region-Micro" which includes macro level economic policy uncertainty index, provincial and municipal economic complexity and characteristic variables of listed companies. On the basis of theoretical analysis of the mechanism of economic policy uncertainty on enterprise innovation behavior, the impact of economic policy uncertainty on enterprise innovation behavior is Re-examination. The results show that: economic policy uncertainty has a positive incentive effect on enterprise innovation. At the same time, the economic complexity of provinces and cities can not only promote enterprise innovation behavior, but also strengthen the impact of economic policy uncertainty on enterprise innovation behavior, that is, inhibit the negative effect and strengthen the positive effect. The robustness test of the measurement method considering endogeneity and substitution of core variables ensures the reliability of the research conclusion. Further research and development, high-tech enterprises and non-high-tech enterprises have an impact on the above conclusions.
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Received: 12 May 2020
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