Research On Productivity Effect Of China's High-tech Industry Embedding In Global Value Chain

With the formation of a new international division of labor system,countries around the world have begun to implement technology innovation strategies to achieve the goal of enhancing the international competitiveness of products.China's "Twelfth Five-Year Plan" clearly states that it is necessary to adhere to see technological progress and innovation as an important support for economic development.To continue to enlarge and strengthen high-tech industries,it is necessary to strengthen technological innovation in high-tech industries.Because of its high-growth,highly innovation and high added value,high-tech industry is a strategic leading industry of the national economy.It plays an important role in industrial restructuring,economic efficiency improvement and economic development mode transformation,but the efficiency of total factor productivity has become the main bottleneck restricting the sustainable development of the industry.This paper combines the development characteristics of today's new international division of labor system,the nature of high-tech industry and the development characteristics of total factor productivity,and puts forward the following questions.What is the level of embeddedness in the global value chain of high-tech industries? What about total factor productivity in high-tech industries? What are the relevant factors? What is the effect of the embedding of the value chain on total factor productivity? What is the relationship between the two factors?In view of the above problems,this paper firstly summarizes the theory of economic growth,global value chain participation measurement theory and total factor productivity measurement theory.Secondly,it outlines the definition of high-tech industry and the development status of high-tech industry at home and abroad.Then,it uses the production decomposition model to measure the forward and backward participation of the global value chain of the high-tech industry in 2000-2014.And the three-stage DEA-Malmquist index method is used to measure the total factor productivity of China's high-tech industry from 2000 to 2014,and it is decomposed into four parts,includes technical efficiency effects,technological change effects,pure technical efficiency effect and scale efficiency effect.Finally,this papers analysis of the impact mechanism of global value chain and total factor productivity,the fixed effect model is used from R&D investment,human capital,technology spillover,industrial scale,research funding,and external trade,foreign investment and other aspects explore the impact mechanism of the change of total factor productivity in China's high-tech industry.And it verify the inverted U-shaped relationship between global value chain embedding and total factor productivity,this paper also discusses the influence mechanism between industry and time resoectively by classifying them.(1)The forward participation and backward participation of the global value chain of China's high-tech industry increased by 53.3% and 43.8% respectively during the observation period.The maximum increase in forward participation was 10.89% in 2000-2007,and the maximum increase in the backward participation was 19.05%,the increase in participation in each year is particularly obvious.From 2008 to 2010,the value chain participation showed a downward trend of the cliff type,and the downward trend of forward participation was greater than that of backward participation,with the degree of decline being 27.23% and 17.07%,respectively.In 2011-2014,the participation of most high-tech industries remained almost unchanged,and the growth rate of forward participation was slightly higher than that of backward participation.(2)The results of the first stage of the three-stage DEA-Malmquist model underestimate the total factor productivity index.After removing environmental factors and random factors,the average annual growth rate of TFP obtained in the three stages is 3.8%,and Technical efficiency average annual growth rate of 0.6%,the annual growth rate of technical changes is 3.2%,the average annual growth rate of pure technical efficiency is 0.3%,and the average annual growth rate of scale efficiency is 0.3%.After removing environmental factors and random error factors,TFP index increases by 0.2% annually,among the decomposition factors,the technical efficiency reduced by 0.2%,the technical variation increased by 0.5%,the pure technical efficiency increased by 0.1%,and the scale efficiency reduced by 0.3% annually.After the adjustment,the annual average fluctuations of each decomposition factor are small.(3)Human capital,research funding,technology spillovers,and foreign trade intensity promote the total factor productivity,with coefficients of action of 1.469,0.701,0.712,and 0.186,respectively.From the size of the coefficient of action,we can see that the quality of labor is the source of growth in technological innovation and total factor productivity.The coefficient of action of R&D investment is 0.861,which is positive,its “productivity paradox” does not exist;the industrial scale has a positive effect on productivity,and the industrial scale has to be further optimized;the effect of foreign investment on total factor productivity cannot be reflected in the short term.It expressed as a long-term trend.(4)There is an inverted u-shaped relationship between the embedding degree of global value chain and the total factor productivity of China's high-tech industry.In the early stage of participating in global value chain,the degree of embedment promotes productivity.When the threshold of embedding degree is reached,embedding degree inhibits productivity.In 2014,the average value of the value chain embedding degree of each sub-sector in the high-tech industry sample(0.1573)is smaller than the critical value of the inverted U-type relationship(0.2836),it indicates that the level of embedded high-tech industry GVC is still in the range of total factor productivity improvement.The same is true in extensibility analysis.The main contributions of this paper are as follows: First,the three-stage DEA-Malmquist index method is used to quantify and decompose the total factor productivity effect.At present,the current research generally uses the DEA-Malmquist index method to measure the total factor productivity,which lacks the effects of environmental factors,random factors and statistical noise.In contrast,the three-stage method has been calculated to be closer to economic reality.Second,the focus of the research is on the internal mechanism of global value chain participation leading to the improvement of the total factor productivity effect of high-tech industries and the reasons for the formation of inverted U-shaped relationship.Different from the previous perspective on whether value chain embedding can improve total factor productivity.Thirdly,the research on global value chain is not enough related to the combination of high-tech industry in China.This paper focuses on the research of high-tech industry in China and explores the productivity effect research embedded in global value chain.