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The Impact of Macro Taxation on High-quality Economic Development from the Perspective of Innovation——Analysis Based on Chinese Provincial Panel Data

HAN Yixuan;DING Yuanyao;School of Business, Ningbo University;  
At present, the problems such as insufficient input of innovation factors and low efficiency of innovation allocation restrict China's economy from turning to high-quality development. In view of this, by using the provincial panel data from 2000 to 2019, and based on the intermediary effect and threshold effect model, the impact of taxation and innovation on high-quality economic development is clarified from the perspective of innovation capital investment and innovation allocation efficiency. The empirical test shows that: First, the current taxation level is relatively reasonable, which can significantly promote high-quality economic development. Second, innovation capital investment and innovation allocation efficiency are the intermediary variables in the process of taxation affecting development. The performance is that improving taxation can promote innovation capital investment and promote high-quality economic development, but will inhibit innovation allocation efficiency and slow down high-quality economic development. Third, the level of economic growth is the threshold variable for taxation to affect innovation. Economic growth will improve the role of taxation in promoting innovation capital investment. The threshold effect of taxation on the efficiency of innovation allocation is not significant, but economic growth can reduce the distortion of taxation.
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