Vol. 40, No. 1 (2017) (3)

Is Advanced Machinery to Promote China’s Economic Growth? – A Study from China

P. Yuan

P. Yuan, Is Advanced Machinery to Promote China’s Economic Growth?- A Study from China, Journal of Mechanical Engineering Research and Developments, vol. 40, no. 1, pp. 14-18, 2017.

ABSTRACT: This paper focuses on the effect of embodied technological progress on economic growth in advanced machines.An empirical approach based on Chinese data is used in the analysis. The conclusion is that most of the driving force of China’s economic growth comes from the introduction of a large number of advanced equipment, while the technological progress of independent innovation is lagging behind.

Keywords: Mechanical equipment; Embodied technical progress; Independent innovation; Economic growth.