An Empirical Study on the Dynamic Relationship between Technology Standard. Technological Innovation and Economic Growth

This paper proceeds research on the relationship between technology standard, technological innovation and economic growth, using Johansen cointegration tests, Granger causality test, impulse response function, variance decomposition and other empirical methods based on VAR model. The result shows that there exists a long-term stable. equilibrium relationship between technology standard, technological innovation and economic growth. Technological innovation and economic growth are the Granger cause of technology standard at the first and second lag order. Technology standard is the Granger cause of economic growth at the third and fourth lag order, and vice versa. Technology standard is the Granger cause of technological innovation at the fourth lag order. Technological innovation has a persistent positive effect on technology standard and economic growth in the long term. Technological innovation is major and driving source of economic growth.