Fig. 11
From: The role of innovation-led profits in the development of an international financial centre
Source: Huang and Sharif (2009)
R&D intensity far more important than Hong Kong Sourced Investment as Source of Industrial Growth. The figure shows the regression coefficients for innovation growth (with industrial value added as the dependent variable). The original paper looked at capital from Hong Kong, Taiwan and Macau—which we cannot disaggregate into Hong Kong only. We thus label the effect of this capital as from Hong Kong and Other (with Macau and Taiwan representing the other). We show only one model’s results out of many (the most relevant model in our opinion). See the original for more details.