University Knowledge Spillover and Large & Medium-sized Industrial Enterprises New Products Development: Spatial Econometric Models Based on Panel Data

The paper has utilized spatial econometrics knowledge production function models based on panel data to study the influence of the institutions of higher education knowledge spillovers on new products development of the large & medium-sized industrial enterprises (LMSIE). The study has indicated that: (i)The pool was first-order stationary sequence and regression series was heterogeneous cointegration relations. Moran´s I index have shown that the new products development of LMSIE has the feature of spatial correlation. (ii) The contribution of institutions of higher education to new products development of LMSIE relies on the R & D expenditure of universities and the scale of university-enterprise cooperation. (iii)The new products development in the neighboring areas would play the negative functions of “replacement” and “expulsion”.