Fig. 16
From: The role of innovation-led profits in the development of an international financial centre
Source: Girma (2009)
In SOEs at least, foreign investment good and domestic investment bad (unless the SOEs engages in foreign-oriented activity) The figure shows the effect of the variables above on Chinese innovation. As shown, foreign direct investment, export orientation and R&D play pivotal roles in promoting innovation. See original study (Table 4) for variable definitions and econometric methods used.