Robust test results.

Innovation is the source of economic growth. Innovation in a region comes from its own knowledge creation and knowledge spillovers from other regions. Previous studies showed that R&D factors flow benefits knowledge spillover, thereby promoting economic growth. But these studies ignored the impact of a region’s knowledge-absorptive capacity on knowledge spillovers. Ignoring the impact of regional absorptive capacity means that the knowledge spillover from the same R&D factors flow is the same, clearly inconsistent with reality. This thesis analyzes the impact of R&D factors flow on economic growth and explores the moderating effect of regional absorptive capacity on the relationship between R&D factors flow and economic growth from theoretical and empirical perspectives. First, we construct a knowledge creation and diffusion model of the new economic geography, including regional absorptive capacity, and analyze the theoretical logic of the flow of R&D factors and regional absorptive capacity influencing economic growth. Second, we employ spatial econometric models to examine the impact of R&D factors flow and regional absorptive capacity on economic growth, utilizing panel data of 30 provinces in China from 2008 to 2021. The results demonstrated a spatial positive correlation between regional economic growth in China. The R&D factors flow could have significantly promoted not just a region’s direct economic growth, but also the economic growth of surrounding regions via spatial spillover effects. Furthermore, the stronger the regional absorptive capacity, the greater the direct effects and spatial spillover effects of the R&D factors flow on economic growth. The novelty of this article is to introduce regional absorptive capacity into the theoretical model, refine the methodology for assessing regional absorptive capacity in empirical research, and examine its moderating effect between the inflow of R&D factors and regional economic growth. This article reveals that the positive impact of the inflow of R&D factors on spatial spillovers and economic growth varies depending on regional absorptive capacity. According to the conclusions above, enhancing regional absorptive capacity is equally important as facilitating the flow of R&D factors. Therefore, it is vital for a region to strengthen its absorptive capacity for new knowledge while promoting R&D factors flow. The study provides valuable policy insights for accelerating the flow of innovation factors, enhancing regional absorptive capacity, and consequently promoting long-term sustainable economic development in the region.

创新是经济增长的源泉。区域创新源于自身的知识创造以及来自其他区域的知识溢出（knowledge spillovers）。既往研究表明，研发要素流动（R&D factors flow）有助于知识溢出，进而推动经济增长，但此类研究忽略了区域知识吸收能力（knowledge-absorptive capacity）对知识溢出的影响。若忽略区域吸收能力的影响，则会默认同一研发要素流动带来的知识溢出水平完全一致，这显然与现实情况不符。本文从理论与实证双维度出发，分析研发要素流动对经济增长的影响，并探究区域知识吸收能力在研发要素流动与经济增长之间关系中的调节效应。其一，构建包含区域知识吸收能力的新经济地理学（new economic geography）知识创造与扩散模型，剖析研发要素流动与区域知识吸收能力作用于经济增长的理论逻辑；其二，采用2008-2021年中国30个省份的面板数据，运用空间计量模型（spatial econometric models）检验研发要素流动与区域知识吸收能力对经济增长的影响。研究结果显示，中国区域经济增长存在显著的空间正相关性。研发要素流动不仅能够显著推动本地区的直接经济增长，还可通过空间溢出效应带动周边区域的经济增长。进一步而言，区域知识吸收能力越强，研发要素流动对经济增长的直接效应与空间溢出效应便越强。本文的创新之处在于：将区域知识吸收能力纳入理论模型，完善实证研究中区域知识吸收能力的评估方法，并检验其在研发要素流入与区域经济增长之间的调节效应。本文研究表明，研发要素流入对空间溢出与经济增长的正向影响，会因区域知识吸收能力的差异而有所不同。基于上述结论，提升区域知识吸收能力与推动研发要素流动同等重要。因此，各地区在推动研发要素流动的同时，强化自身对新知识的吸收能力至关重要。本研究可为加快创新要素流动、提升区域知识吸收能力，进而推动区域经济长期可持续发展提供具有参考价值的政策启示。