Research on the Relationship Among Technical Standards, Economic Growth, and Innovation: An Empirical Study of Chinese Construction Industry Data

摘要

As a pillar industry of the country, the construction industry is very important to the development of the country. This paper firstly analyzes the relationship among technical standards, economic growth and innovation, and then combines Chinese construction industry data, based on VAR model, using Stata.14 software for data analysis to study the dynamic relationship among construction industry technical standards, economic growth and innovation. The results show that standards and economic development can better explain innovation; economic growth and building standards are positively related to innovation; the impact of standards on innovation is greater than that of economic growth, with standard changes of 1% and innovations of 1.27.%, while a 1% change in the economy can bring about a 0.6% change in innovation. The paper will present some thoughts on how to push construction industry in developing countries in which there suffers insufficient capital to code with the issues.