Introduction
The related mechanism
The effect of standards on economic growth
The effect of economic growth on standards
Data and methodology
The empirical method
Variable selection and data sources
Variable | The variable name | Symbol | Definition and calculation |
---|---|---|---|
Explained variable | Economic growth | LNPGDP | The logarithm of per capita GDP |
Exports volume | LNPEXP | The logarithm of per capita exports volume | |
Import volume | LNPIMP | The logarithm of per capita import volume | |
Innovation ability | LNPPAT | The number of patents every 100,000 population | |
Standards capacity | National standards stock | LNPGB | The logarithm of national standards stock every 1,000,000 population |
Adopted international standards stock | LNPCB | The logarithm of adopted international standards stock every 1,000,000 population | |
Amended adopted international standards stock | LNPMOD | The logarithm of amended adopted international standards stock every 1,000,000 population | |
Equivalent-to-international standards stock | LNPIDT | The logarithm of equivalent to the international standards stock every 1,000,000 population |
Descriptive statistical analysis
Variable | Average | Variance | Minimum | Maximum |
---|---|---|---|---|
LNPGDP | 8.565 | 1.617 | 5.953 | 10.990 |
LNPEXP | 9.232 | 2.211 | 5.122 | 11.940 |
LNPIMP | 9.167 | 2.102 | 5.233 | 11.733 |
LNPPAT | 10.097 | 2.055 | 3.689 | 12.948 |
LNPGB | 9.092 | 1.591 | 5.081 | 10.880 |
LNPCB | 4.866 | 2.350 | -1.571 | 7.125 |
LNPMOD | 1.887 | 2.688 | -2.303 | 5.770 |
LNPIDT | 4.564 | 2.356 | -1.585 | 6.678 |
Results and discussion
Unit root test and Granger causality test
Variable | Test form (C,T,L) | Test value | p value | Test result (below 5%) | Test result (below 10%) |
---|---|---|---|---|---|
LNPGDP | (0,0,0) | − 13.348 | 0.000 | Stable | Stable |
LNPEXP | (0,0,0) | − 2.716 | 0.071 | Unstable | Stable |
△LNPEXP | (0,0,1) | − 5.003 | 0.000 | Stable | Stable |
LNPIMP | (0,0,0) | − 2.422 | 0.136 | Unstable | Unstable |
△LNPIMP | (0,0,1) | − 4.355 | 0.000 | Stable | Stable |
LNPPAT | (0,0,0) | − 1.795 | 0.383 | Unstable | Unstable |
△LNPPAT | (0,0,1) | − 5.958 | 0.000 | Stable | Stable |
LNPGB | (0,0,0) | − 13.348 | 0.000 | Stable | Stable |
LNPCB | (0,0,0) | − 9.299 | 0.000 | Stable | Stable |
LNPMOD | (0,0,0) | − 0.568 | 0.878 | Unstable | Stable |
△LNPMOD | (0,0,1) | − 5.412 | 0.000 | Stable | Stable |
LNPIDT | (0,0,0) | − 6.962 | 0.000 | Stable | Stable |
Null hypothesis | χ2 value | p value | Null hypothesis | χ2 value | p value |
---|---|---|---|---|---|
LNPGBeypothe | 19.42 | 0.007*** | LNPCB***othe | 16.30 | 0.006*** |
LNPGDP**othe | 23.86 | 0.000*** | LNPGDP**othe | 12.06 | 0.017** |
LNPGB***othe | 12.41 | 0.030** | LNPCB***othe | 27.51 | 0.004*** |
LNPEXP**othe | 23.25 | 0.000*** | LNPEXP**othe | 45.95 | 0.000*** |
LNPGB***othe | 18.56 | 0.005*** | LNPCB***othe | 14.65 | 0.012** |
LNPIMP**othe | 26.25 | 0.000*** | LNPIMP**othe | 13.15 | 0.022** |
LNPGB --- LNPPAT | 18.44 | 0.000*** | LNPCB***- LN | 27.26 | 0.000*** |
LNPPAT --- LNPGB | 15.43 | 0.009*** | LNPPAT**-- L | 14.87 | 0.010** |
LNPMOD**-- LN | 35.05 | 0.000*** | LNPIDT**-- LN | 20.08 | 0.001*** |
LNPGDP**-- LN | 12.34 | 0.030** | LNPGDP**-- LN | 9.68 | 0.022** |
LNPMOD**-- LN | 25.77 | 0.007*** | LNPIDT**-- LN | 24.22 | 0.001*** |
LNPEXP**-- LN | 11.37 | 0.045*** | LNPEXP**-- LN | 7.18 | 0.067* |
LNPMOD**-- LN | 22.19 | 0.001*** | LNPIDT**-- LN | 16.31 | 0.006*** |
LNPIMP**-- LN | 10.97 | 0.052* | LNPIMP**-- LN | 20.30 | 0.000*** |
LNPMOD --- LNPPAT | 23.90 | 0.000*** | LNPIDT**-- LN | 14.04 | 0.003*** |
LNPPAT --- LNPMOD | 9.69 | 0.084* | LNPPAT --- LN | 8.15 | 0.086* |
Co-integration test
Sequence data | Rank statistics | Sequence data | Rank statistics | Sequence data | Rank statistics | Sequence data | Rank statistics |
---|---|---|---|---|---|---|---|
LNPGB--LNPGDP | 41.114***(0.000) | LNPCB--LNPGDP | 36.607*** (0.000) | LNPMOD--LNPGDP | 69.034*** (0.000) | LNPIDT--LNPGDP | 61.313*** (0.000) |
LNPGB--LNPEXP | 31.963***(0.000) | LNPCB ---LNPEXP | 22.801*** (0.000) | LNPMOD--LNPEXP | 9.781*** (0.002) | LNPIDT--LNPEXP | 49.402*** (0.000) |
LNPGB--LNPIMP | 46.217***(0.000) | LNPCB ---LNPIMP | 24.977*** (0.000) | LNPMOD- -LNPIMP | 28.081*** (0.000) | LNPIDT- -LNPIMP | 63.680*** (0.000) |
LNPGB--LNPPAT | 112.53***(0.000) | LNPCB ---LNPPAT | 271.60*** (0.000) | LNPMOD- -LNPPAT | 5.782** (0.016) | LNPIDT--LNPPAT | 50.701*** (0.000) |
Variable | LNPGB | LNPCB | LNPMOD | LNPIDT |
---|---|---|---|---|
LNPGDP | 1.701*** | 1.620*** | 0.633*** | 2.242*** |
(0.000) | (0.000) | (0.000) | (0.000) | |
LNPEXP | 2.055*** | 2.386*** | 2.757*** | 4.041*** |
(0.000) | (0.000) | (0.002) | (0.000) | |
LNPIMP | 2.066*** | 3.760*** | 0.615*** | 2.467*** |
(0.000) | (0.000) | (0.009) | (0.000) | |
LNPPAT | 2.530*** | 3.203*** | 0.634** | 3.518*** |
(0.000) | (0.000) | (0.016) | (0.000) |
Unit circle test and impulse response function
Analysis of variance
Phase | LNPGDP | LNPGB | LNPEXP | LNPGB | LNPIMP | LNPGB | LNPPAT | LNPGB |
---|---|---|---|---|---|---|---|---|
1 | 100.00 | 0.000 | 100.00 | 0.000 | 100.00 | 0.000 | 100.00 | 0.000 |
2 | 99.999 | 0.001 | 99.830 | 0.170 | 99.407 | 0.593 | 94.044 | 5.956 |
3 | 99.699 | 0.301 | 98.291 | 1.709 | 99.343 | 0.657 | 90.275 | 9.726 |
4 | 98.609 | 1.391 | 95.122 | 4.878 | 97.487 | 2.513 | 72.407 | 27.594 |
5 | 96.779 | 3.221 | 91.536 | 8.465 | 95.191 | 4.809 | 56.256 | 43.744 |
6 | 94.571 | 5.429 | 88.080 | 11.920 | 93.269 | 6.731 | 44.675 | 55.325 |
7 | 92.342 | 7.658 | 85.050 | 14.950 | 91.769 | 8.231 | 38.078 | 61.922 |
8 | 90.301 | 9.699 | 82.566 | 17.435 | 90.640 | 9.360 | 32.887 | 67.113 |
9 | 88.529 | 11.471 | 80.618 | 19.382 | 89.837 | 10.163 | 29.993 | 70.007 |
10 | 87.035 | 12.965 | 79.144 | 20.857 | 89.300 | 10.700 | 28.184 | 71.816 |