Asian Journal Of Social Pharmacy

Abstract: Objective To empirically analyze the relationship between cooperation innovation expenditure and economic output of China’s pharmaceutical industry, and provide a reference for improving its economic benefits and the capability of cooperation innovation in the future. Methods The relevant data of China’s pharmaceutical industry from 2000 to 2016 was selected as a sample. Based on the co-integration theory, an error correction model was established to conduct Granger test of causality to study the relationship between cooperation innovation expenditure and economic output of China’s pharmaceutical industry. Results and Conclusion The cooperation innovation expenditure of China’s pharmaceutical industry has a significant positive impact on economic output. If cooperation innovation expenditure increases 1%, its economic output will go up by 1.7%. At the same time, the long-term promotion effect of cooperation innovation expenditure on economic output is more significant than the short-term effect.

Key words: pharmaceutical industry, cooperation innovation expenditure, economic output, co-integration test