Research On Innovative Performance Of Chinese Seven Strategic Emerging Industries

Strategic emerging industries as the main driving force of innovation, have a significant and far-reaching impact on the economic and social development and national security, could become an emerging industry in a country or region’s future economic development of pillar industries. Development of strategic emerging industries have become the common choice of the world’s countries avoid crisis, promote industrial structure adjustment and the sustainable development of economy. Under the new normal, strategic emerging industries to grow and develop is the key to the success of the transformation. At present, the research on micro-enterprise level of Chinese strategic emerging industry innovation performance and innovation spillovers is little. This paper, from the micro-enterprise level, explore China’s seven major strategic emerging industry innovation performance level for in-depth study of strategic emerging industries innovation performance providing important theoretical and practical reference guide to accelerate the development of strategic emerging industries.Firstly, based on the IO table of year 2010,this paper calculates the industries’ similarity matrix and measures the innovation spillovers of Chinese Strategic Emerging Industries’ firms. Secondly, building a translog production function model which includes innovation spillovers effect, we estimate the innovative performance of Chinese strategic emerging industries’ firms by iterative three-stage least squares(IT3SLS) method. Finally, We provide reference and suggestions for government to support and promote the innovation and development of strategic emerging industries, based on the results of our seven strategic emerging industries innovation performance.Empirical analysis obtained the following conclusions:(1) Impact of Labor, capital, innovation input, and the innovation spillover on innovation performance was significant, and robustness test results show that our model estimation results are robust and reliable.(2) Both innovation input and spillovers have a significant positive effects on output performance, and the innovation output elasticity is 0.052, the fixed capital output elasticity as high as 0.618 level.(3) New generation of information technology industry’s fixed capital elasticity is significantly lower and it’s labor elasticity, spillovers output elasticity are higher than other six industries. This indicates that new generation of information technology industry consumes relatively little physical capital, industrial innovation spillover effect is more obvious. In addition, the industrial innovation output elasticity is negative, indicating the presence of innovation spillovers, to a certain extent, reduce the corporate innovation performance. Whether general or individual industries, its innovation spillovers elasticity exceeded the innovation investment elasticity. It confirms that China’s strategic emerging inter-industry’s innovation spillovers has become an important factor to improve production efficiency. And the innovation elasticity and spillovers output elasticity has significant negative correlation. It shows that, from a business point of view, innovation spillovers is a hindrance to the innovation investment.