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The impact of capital enrichment on total factor productivity from the perspective of innovation capability

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  • Lina Ma
  • Fengju Xu
  • Najaf Iqbal

Abstract

Innovation capability of manufacturing industry is one of the most important factors that determine a country’s competitiveness. This paper expounds the theoretical and empirical relationship among innovation capability (IC), capital enrichment (CE) and total factor productivity (TFP) by using the yearly panel data of 28 Chinese manufacturing segments from 2011 to 2018. The intermediary effect model and threshold model are used for empirical analysis, findings suggest that 1) IC not only directly promotes TFP but also indirectly through CE, indicating that CE has an intermediary effect on the relationship between IC and TFP. 2) The positive effect of CE on TFP is influenced by the “double threshold effect” of IC. Compared with industries having low IC, this positive effect in high IC industries is first enhanced then weakened and later re-enhanced. 3) There is a significant difference in IC and CE among different manufacturing segments.

Suggested Citation

  • Lina Ma & Fengju Xu & Najaf Iqbal, 2022. "The impact of capital enrichment on total factor productivity from the perspective of innovation capability," Journal of Applied Economics, Taylor & Francis Journals, vol. 25(1), pages 644-667, December.
    • Handle: RePEc:taf:recsxx:v:25:y:2022:i:1:p:644-667
    DOI: 10.1080/15140326.2022.2048342
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    Cited by:

    1. Xiaohua Li & Lina Ma & Salahuddin Khan & Xin Zhao, 2023. "The Role of Education and Green Innovation in Green Transition: Advancing the United Nations Agenda on Sustainable Development," Sustainability, MDPI, vol. 15(16), pages 1-20, August.
    2. Penglong Li & Xuan Ye, 2024. "Research on the promotion effect and mechanisms of digital empowerment of food enterprises," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 70(2), pages 60-72.
    3. Ma, Lina & Iqbal, Najaf & Bouri, Elie & Zhang, Yang, 2023. "How good is green finance for green innovation? Evidence from the Chinese high-carbon sector," Resources Policy, Elsevier, vol. 85(PB).

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