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Synergizing Science Consumption and Economic Growth: A Coupling Correlation Analysis in the Context of China’s Innovation Drive

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  • Yunxia Zhao

    (Inner Mongolia University)

Abstract

In the midst of a global innovation surge, the convergence of financial resources with the realms of science and technology has emerged as a pivotal catalyst for propelling commercial industrialization and catalyzing transformative achievements. This integration constitutes a fundamental imperative for the reform of financial systems. However, in China, the depth of integration between science and economy remains a critical determinant of the weakened independent innovation capacity of enterprises. A trajectory of sustainable innovation and development is imperative to bridge regional disparities. This paper introduces a comprehensive framework for analyzing the coupling relationship between science consumption and economic growth, specifically focusing on China’s dynamic landscape. Employing a direct weight method, a coupling correlation analysis model is devised to quantitatively assess the science consumption and economic development levels across diverse regions. The model encompasses six pivotal components: data normalization, evaluation index weight determination, comprehensive development index computation, coupling function establishment, coordination degree calculation, and coordination degree level delineation. Utilizing the entropy weight method, this study offers a quantitative evaluation of the scientific consumption capacity and economic development level in various regions, culminating in introducing a coordination model to gauge the developmental synchrony of the two systems. Empirical analyses substantiate the efficacy of the model, underscoring its superiority over existing counterparts. This model holds promise in uncovering and leveraging influential factors shaping science and technology consumption and regional economic development, thereby furnishing vital insights to bolster innovation capabilities in the contemporary landscape.

Suggested Citation

  • Yunxia Zhao, 2024. "Synergizing Science Consumption and Economic Growth: A Coupling Correlation Analysis in the Context of China’s Innovation Drive," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 18646-18662, December.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:4:d:10.1007_s13132-024-01880-6
    DOI: 10.1007/s13132-024-01880-6
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    References listed on IDEAS

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