Interaction Correlation Analysis between Scientific Technological Innovation and High-quality Development of New-type Urbanization: Panel Vector Autoregressive (PVAR) Approach

Abstract

Scientific-technological innovation (STI) plays a key role in urbanization. Previous studies have examined the relationship between STI and urban economy, but the relationship between STI and high-quality development of new-type urbanization (HQU) is still insufficient. By constructing two systematic evaluation index systems, this paper empirically analyzed the interaction correlation of the panel data of 11 cities in Zhejiang Province from 2006 to 2018. The results show that: (1) the comprehensive scores of STI and HQU in Zhejiang Province are increasing steadily in general. (2) There is a certain lag and difference in the interaction effect between STI and HQU in Zhejiang Province. The impact coefficient of HQU that lags behind the 1st stage on STI is 0.176, indicating that the HQU is conducive to the improvement of STI. However, the impact coefficient of STI on HQU is -0.117, indicating that STI has a slightly hindering effect on HQU and a “Crowding Out” effect of resources. (3) The results of variance decomposition show that the STI and HQU in Zhejiang Province mainly depends on its own development, and the promotion effect between them is weak. Finally, coordinated countermeasures and suggestions to promote STI and HQU are put forward.