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| The Dynamic Moderating Effect of Green Technology Innovation to Promote Regional Industrial Upgrading : A New Perspective Based on the Constraint of Economic Growth Targets |
| Han Xianfeng,Li Jiajia,Xu Jie |
| (Faculty of Management and Economics, Kunming University of Science and Technology,Kunming 650093, China) |
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Abstract Influenced by the “carbon peak and carbon neutrality” strategy, green technology innovation has become an important support for the nation to achieve the strategic goal of industrial optimization and upgrading. For how to effectively drive regional industrial upgrading, the theoretical circle has actively explored from different dimensions such as income distribution, institutional environment, technology spillover, factor endowment structure and financial science and technology, but the existing studies have generally ignored the huge impact of green technology innovation on regional industrial upgrading with the economic growth targets. In fact, the change of economic growth targets is bound to have a huge impact on many local economic decisions and behaviors, which will inevitably affect the industrial upgrading effect of green technology innovation. However up to now, few literatures have given a positive response to the internal relationship among economic growth targets, green innovation and industrial upgrading. Therefore, it is of great practical significance to systematically deconstruct the practical problem of the industrial upgrading and innovation effect of green technology innovation under the constraint of economic growth targets,so as to effectively realize the “win-win” of green technology innovation and regional industrial upgrading and development in the “14th Five-Year” period.#br#On the basis of China' s provincial panel data from 2004 to 2020, an empirical analysis is made from multiple perspectives. In order to comprehensively depict the potential impact of economic growth targets on green technology innovation to assist industrial upgrading, the study first examines the direct impact of green technology innovation on industrial upgrading and establishes a model; furthermore it uses the Hansen's panel threshold regression method to reveal the nonlinear evolution of the impact of green technology innovation on industrial upgrading with the moderation of different economic growth targets.The results show that firstly, green technology innovation has significantly driven local industrial upgrading, and this conclusion is still valid after a series of robustness and endogenous tests. Secondly, the industrial upgrading effect of green technology innovation has a significant triple threshold effect based on the constraint of economic growth targets. Under the constraint of economic growth targets, the impact of green technology innovation on industrial upgrading shows a significant positive and diminishing marginal efficiency. Thirdly, there are significant differences in the dynamic adjustment effect of economic growth targets on green technology innovation-enabled industrial upgrading. To achieve the optimal adjustment effect, the eastern region needs to adopt lower constraint of economic growth targets than the central and western regions, and the areas with high degree of industrial upgrading also needs to choose looser constraint of economic growth targets than the areas with the middle and low degrees of industrial upgrading.#br#According to the above conclusions, the following policy implications are presented. Firstly, it is essential to further accelerate the development of green technology innovation, promote the deep integration of green technology innovation and regional industrial upgrading in various fields and links, and improve the actual efficiency of green technology innovation in driving regional industrial upgrading; secondly, at this stage, it is necessary to gradually and moderately relax the constraint of economic growth targets, and avoid the loss of industrial upgrading dividends enabled by green technology innovation due to excessively stringent economic growth targets; thirdly, different regions should choose the appropriate constraint of economic growth targets according to their own green technology innovation and industrial upgrading development reality.#br#Compared with previous studies, this paper makes innovations in three aspects. Firstly it broadens the existing research perspective and reveals how the constraint of economic growth targets dynamically moderates the industrial upgrading effect of green technology innovation from the perspective of nonlinear dynamic evolution, so as to advance the in-depth understanding of the internal logical relationship among the three. Secondly by depicting the dynamic impact effect and heterogeneous facts of the constraint of economic growth targets, it can provide decision-making reference for the government to design more targeted linkage strategies between economic growth targets and green technology innovation in promoting local industrial upgrading.#br#
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Received: 17 December 2022
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