Explanatory variables | Regression coefficient | robust standard errors |
The proportion of local financial expenditure on science and technology in local finance | −0.00285*** | 0.080 |
R&D investment intensity | −0.04162*** | 0.048 |
Total exports of high-technology products as a percentage of GDP | 0.01183*** | 0.066 |
Proportion of patents granted | 0.00306*** | 0.057 |
Ratio of research institution personnel to number of research | 0.04074*** | 0.022 |