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| The Substitution-complementary Effect of Technology Spillovers from Trade Goods and Basic Scientific Research |
| Xie Huiying1,Liu Hang1,Zhang Yuwei2 |
| (1.School of Economics and Finance, Xi′an Jiaotong University, Xi′an 710061, China;2.School of Economics and Finance, Xi′an International Studies University, Xi′an 710128, China) |
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Abstract China is ramping up efforts to promote scientific and technological self-reliance and self-improvement through basic scientific research. The current theoretical exploration of economic performance in basic research is inefficient in two aspects. Firstly, basic research and applied research are taken as two parallel types without analysis based on the innovation value chain. Secondly, basic research is often viewed under closed economic conditions, while in practice, applied research departments can choose to collaborate with domestic basic research departments upstream and downstream to produce innovative results, or gain cross-border knowledge spillovers from imports and exports. Since the focus of comprehensive national strength competition shifts towards basic research, and open innovation becomes a mainstream innovation model, the traditional research on innovation practice has limited explanatory power. It is necessary and of practical value to combine these two questions to explore if there is a substitute or complementary relationship between the positive externalities of technology from trade goods and domestic basic scientific research.#br# This paper uses cross-country panel data to empirically analyze the impact of basic research input on TFP and the regulatory effect of trade opening on the transformation process of basic scientific achievements. It is confirmed that (1) capital investment in basic research has a significant positive impact on TFP growth. Basic scientific research is one of the fundamental driving forces of a country's connotative economic growth. Trade openness has a significant negative moderation effect on this process, that is, there is a certain substitution relationship between the implicit flow of technology from trade goods and basic research achievements. (2) In the process of promoting TFP through basic research input, applied research output (patent density) plays a key mediation effect, that is, basic scientific achievements need to be transformed downward along the innovation value chain to drive economic growth. (3) In the moderation mechanism by which basic research investment enhances TFP by increasing patent density, trade opening has a significant negative mediated moderation effect on the first stage, but no impact on the second stage. That is, the substitution relationship between trade opening and basic research investment mainly exists in the application stage of basic research results. If the application research department excessively relies on external innovation resources, the efficiency of applied research based on basic research results may be lost. (4) Improving the business environment will help to weaken the substitution effect of the implied flow of technology in trade goods and basic research, but it is mainly reflected in the first stage of the mediation mechanism, that is, the higher the business environment index, the more conducive it is to realizing the synergy between international technology spillovers and domestic basic research to promote patent output.#br# Compared with the existing research, this paper is more forward-looking, proposing to place basic research in the context of open innovation. Faced with the complex and volatile international economic and trade situation, China's absorption of technology spillovers from foreign trade is being narrowed. This paper analyzes this issue from the perspective of innovation value chain, and explores the substitution relationship between domestic basic research achievements and technology spillovers of trade goods in supplying the applied research departments together, as well as their impact on TFP. By integrating the similarities between the characteristics of basic research in terms of fundamentality, knowledge commonness and accumulation and the technology spillovers of tradable goods in the innovation value chain analysis, it explains the heterogeneity of economic performance of basic research from a broader perspective. #br# At this stage, China is in the process of building a modern country. It is urgent to explore a new mode and path of innovative development with the help of high-level opening up. On the one hand, China should improve the quality of basic research and promote differentiated competition with its foreign counterparts. On the other hand, it is critical to expand the integration and innovation functions of the open platform to tap potential trade, and deeply optimize the open innovation ecology.#br#
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Received: 10 October 2022
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