Fig. 9
From: The role of innovation-led profits in the development of an international financial centre
Source: Fu and Li (2011)
Qianhai’s destiny likely tied to cooperation with Hong Kong’s universities. The figure show s the parameter estimates for Tobit regressions on the extent of novel innovation (as sales of newly conceived products) and diffusion innovation (sales of improved versions of products already on the market). Cooperation with Newly Industrial Economies (NIEs)—which we take in this context as Hong Kong, Taiwan, Singapore and Korea (due to similar use in other papers in this literature)—varies strongly and closely with such innovation