Government R&D Grants,Private R&D Funding And Innovation Efficiency

Based on the developmental facts of national High-Tech industry in China,combined with the related researches native and abroad,using Stochastic Frontier analysis method,by selecting 15 national High-Tech industries’ panel data between 1995 and 2008,we do empirical analysis on the relationship between government grants,private R&D funding and the innovation efficiency,then we do comparative analysis on the resources of inputs in different regions,such as personnel,research capital,enterprise scale and enterprise profits and then study the different contributions on innovation efficiency in different region.Finally setting national Electron and Communication Equipment Manufacturing industry as an example,we do empirical analysis on the relationship between the government grants,private R&D funding and the innovation efficiency,and study the influence of various inputs on the innovation efficiency.Main conclusions are as follows:(1)In terms of the national High-Tech industry in China,the contribution of R&D personnel is higher than the contribution of R&D capital investment on the innovation efficiency,this conclusion also exists in national Electronic and Communication Equipment Manufacturing industry.(2)Our research found that no matter from which perspective,the whole national High-Tech industry or national Electronic and Communication Equipment Manufacturing industry,enterprise scale doesn’t have a significant effect on innovation efficiency.While from the perspective of the whole industry,enterprise profitability has a positive effect on innovation efficiency,but this conclusion doesn’t exist in national Electronic and Communication Equipment Manufacturing industry.(3)The government R&D grants and financial institutions loans have a negative impact on the innovation efficiency of national High-Tech industry in China,the parameters estimated are 0.114 and 0.081 respectively.Private R&D input has a significant positive impact on promoting the innovation efficiency,the parameter estimated is 1.048.Through the empirical analysis,our national enterprises in the High-Tech industry,the government R&D grants has a stimulated effect on private R&D input,in another words,the government R&D grants will stimulate the private R&D funding.In terms of the national Electronic and Communication Equipment Manufacturing industry,the relationship between government R&D grants,private R&D input and innovation efficiency is consistent with the whole by the empirical analysis.Based on the conclusions,this paper gives the corresponding policy recommendations.