Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective
Innovation-driven development is the main driving strategy for promoting high-quality economic development. Technological innovation is the core of innovation-driven development. Financial innovation is an important aspect of promoting financial development. As such, the coupling and coordination of...
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MDPI AG
2025-05-01
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| Series: | Applied System Innovation |
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| Online Access: | https://www.mdpi.com/2571-5577/8/3/77 |
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| author | Jiong Zhou Yuanxin Jia Yixin Yang Wenbing Zhao |
| author_facet | Jiong Zhou Yuanxin Jia Yixin Yang Wenbing Zhao |
| author_sort | Jiong Zhou |
| collection | DOAJ |
| description | Innovation-driven development is the main driving strategy for promoting high-quality economic development. Technological innovation is the core of innovation-driven development. Financial innovation is an important aspect of promoting financial development. As such, the coupling and coordination of the technological innovation and financial development in developing countries, such as China, is an important issue. The topic has been extensively studied over the last decade in the context of China, and a dominating method has emerged on how to model the technological innovation subsystem and the financial development subsystem, and how to quantitatively determine the degree of coupling and coordination of the two subsystems. A variety of predictors have been proposed to model each subsystem. The coupling degree and the coordination degree are then calculated, and then they are used to analyze the current development status for potential issues. However, we make an effort to validate the calculated degree of coupling and coordination before the results are used for the analysis.Without validation, the outcomes of the analysis not only might not be useful but also could lead to inappropriate governmental policies. That said, it is tremendously challenging to validate the results due to the lack of the ground truth. The goal of this study is to work towards objectively determining the reliability of the degree of coupling and coordination from an engineering perspective. Specifically, we accomplish this task by evaluating the regression performance and projection performance. We demonstrate that the use of a carefully crafted set of predictors for each subsystem is the foundation for deriving the reliable coordination degree of the two subsystems. |
| format | Article |
| id | doaj-art-24e384d2ce9c4f30abae930b348743bb |
| institution | Kabale University |
| issn | 2571-5577 |
| language | English |
| publishDate | 2025-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Applied System Innovation |
| spelling | doaj-art-24e384d2ce9c4f30abae930b348743bb2025-08-20T03:27:15ZengMDPI AGApplied System Innovation2571-55772025-05-01837710.3390/asi8030077Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering PerspectiveJiong Zhou0Yuanxin Jia1Yixin Yang2Wenbing Zhao3School of Public Policy and Administration, Northwestern Polytechnical University, Xi’an 710072, ChinaSchool of Public Policy and Administration, Northwestern Polytechnical University, Xi’an 710072, ChinaSchool of Public Policy and Administration, Northwestern Polytechnical University, Xi’an 710072, ChinaDepartment of Electrical and Computer Engineering, Cleveland State University, Cleveland, OH 44115, USAInnovation-driven development is the main driving strategy for promoting high-quality economic development. Technological innovation is the core of innovation-driven development. Financial innovation is an important aspect of promoting financial development. As such, the coupling and coordination of the technological innovation and financial development in developing countries, such as China, is an important issue. The topic has been extensively studied over the last decade in the context of China, and a dominating method has emerged on how to model the technological innovation subsystem and the financial development subsystem, and how to quantitatively determine the degree of coupling and coordination of the two subsystems. A variety of predictors have been proposed to model each subsystem. The coupling degree and the coordination degree are then calculated, and then they are used to analyze the current development status for potential issues. However, we make an effort to validate the calculated degree of coupling and coordination before the results are used for the analysis.Without validation, the outcomes of the analysis not only might not be useful but also could lead to inappropriate governmental policies. That said, it is tremendously challenging to validate the results due to the lack of the ground truth. The goal of this study is to work towards objectively determining the reliability of the degree of coupling and coordination from an engineering perspective. Specifically, we accomplish this task by evaluating the regression performance and projection performance. We demonstrate that the use of a carefully crafted set of predictors for each subsystem is the foundation for deriving the reliable coordination degree of the two subsystems.https://www.mdpi.com/2571-5577/8/3/77technological innovationfinancial developmentcoupling degreecoordination degreeentropy weightinglinear regression |
| spellingShingle | Jiong Zhou Yuanxin Jia Yixin Yang Wenbing Zhao Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective Applied System Innovation technological innovation financial development coupling degree coordination degree entropy weighting linear regression |
| title | Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective |
| title_full | Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective |
| title_fullStr | Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective |
| title_full_unstemmed | Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective |
| title_short | Coordinated Evaluation of Technological Innovation and Financial Development in China: An Engineering Perspective |
| title_sort | coordinated evaluation of technological innovation and financial development in china an engineering perspective |
| topic | technological innovation financial development coupling degree coordination degree entropy weighting linear regression |
| url | https://www.mdpi.com/2571-5577/8/3/77 |
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