Research On The Impact Of Independent R&D On Growth Of TFP

Since reform and open-up,the China economy has made remarkable achievements.However,the traditional growth methods long-term dependent on factor-driven has made the contradictions in the process of economic development increasingly prominent and formed a bottleneck for economic growth.It is the primary task for China's current economic development to adjust the momentum of economic growth and realize the transition to innovation-driven growth.In recent years,due to the weakening of the role of technology introduction and imitation,independent research and development(R&D)has become an important way to achieve technological progress.However,Chinese industrial enterprises are facing with such a dilemma: with the surge in independent R&D investment,the level of technological progress measured by TFP has not been correspondingly improved.Therefore,this paper attempts to explore the adjustment mechanism of technical capabilities in the process of independent R&D to enhance TFP,and further clarify the relationship between independent R&D and TFP promotion.In terms of theoretical analysis,based on the three basic theories of Endogenous Growth theory,Knowledge-based Theory and Innovative Value Chain Theory,this paper innovatively integrates technological capabilities,independent R&D and TFP promotion into the same framework,and based on the Innovative Value Chain Theory,the technical capability is divided into knowledge learning capability,knowledge output capability and achievement transformation capability,and the influence of different technical capability levels on the promotion of TFP by independent R&D is discussed.In terms of empirical research,this paper first uses panel regression model to empirically test the linear relationship between independent R&D and TFP,and also clarifies the role of introducing foreign technology and purchasing domestic technology to TFP.On this basis,the panel threshold model is used to empirically test the mechanism of technical capability,and the nonlinear relationship between independent R&D and TFP is investigated.At the same time,it analyzes the changes and differences in the technological capabilities of regional industrial enterprises from the perspective of time and space.The research results show that:(1)At this stage,the independent R&D of large and medium-sized industrial enterprises in China has no obvious promotion effect on TFP.The introduction of foreign technology and the purchase of domestic technology have no significant effect on TFP promotion yet.(2)There is a significant technological capability threshold between independent R&D of large and medium-sized industrial enterprises and TFP promotion.With the improvement of knowledge learning capability,the effect of independent R&D on TFP promotion has changed from not significant to a significant positive effect.With the improvement of knowledge production capability,independent R&D has changed from no obvious effect to a positive effect on TFP.As the capability to transform results has increased,the promotion effect of independent R&D has changed from not significant to significant.(3)From the perspective of spatial and temporal heterogeneity,the average technical capability level of large and medium-sized industrial enterprises has been correspondingly developed,but there are obvious regional gaps.(4)Under the influence of different technical capabilities,the impact of independent R&D on TFP is different.When independent R&D is not limited by the threshold of knowledge output capability,independent R&D produces the strongest promotion,followed by knowledge learning capability,and finally the transformation of results capability.