Empirical analysis of economic growth promotion through standardization through technological innovation pathway

Abstract

Drawing from the framework of endogenous growth theory, technological innovation plays a pivotal role in driving economic expansion. This study, building upon empirical investigations into the impact of technological standardization on economic growth, examines the magnitude of the effect of technological innovation as an intermediary variable in this pathway and formulates corresponding hypotheses. Considering the specific context of China and the evolution of standardization, we conduct research encompassing technological standardization, technological innovation, and economic growth within a unified framework, utilizing China's macroeconomic data spanning from 1989 to 2019 as our dataset. We employ Pearson correlation tests and address multicollinearity issues by applying ridge regression in conjunction with the results of collinearity tests and the mediation model derived from traditional multiple linear regression. This approach yields more stable parameter values. Furthermore, a comparative international analysis was conducted, leading to conclusions and recommendations regarding the achievement of economic growth through the intermediate variable pathway involving the consideration of technological standardization.