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R&D Investment and Matthew Effect in Economic Growth—An Empirical Study Based on Guangdong Province

This paper uses the panel data of 21 cities in 
Guangdong Province from 2005 to 2015 to construct a panel data model, and 
empirically analyzes the impact of local R&D investment on economic growth 
from two dimensions: spatial differentiation and time series. The results show 
that the total social R&D investment in Guangdong Province has a 
significant positive impact on economic growth; the impact of R&D 
investment on economic growth in the more developed regions (Pearl River Delta) 
and the less developed regions (other cities in Guangdong) is different. The 
former is twice as large as the latter, and there are obvious inter-regional 
differences. From the perspective of time, the gap is increasing, that is, 
there is a “Matthew effect”. It is better for latter to invest more in 
infrastructure construction, resource environmental protection, special 
industry cultivation and human resource development than continuing to increase 
R&D investment.