Analysis On The Change Of Efficiency Of High-tech Industry And Its Influencing Factors In China

Manufacturing is the pillar industry of national economy.Manufacturing industry is the foundation of a country.It is the instrument of national rejuvenation and the foundation of a strong country.Manufacturing industry plays an important role in China's development.As a crucial part of manufacturing industry,high-tech industry has been playing an increasingly important role in manufacturing industry in recent years.What's more,with the development of China's economy,the traditional economic dividend is fading.China can produce innovation dividend to promote the sustainable development of the economy.The high-tech industry plays an incomparable role in promoting the formation of new innovation dividend.Many countries in the world are attaching more and more importance to the development of high-tech industries.The Chinese government has also issued the "made in China 2025" plan,which attaches importance to the development of high-tech industries.It is an indispensable development strategy for China to improve the efficiency of high-tech industries.The existing research literature on the efficiency of high-tech industry mostly adopts the data envelopment analysis method,but seldom uses the stochastic frontier analysis method.However,the stochastic frontier analysis method takes inefficiency factors into account,having some advantages.Therefore,based on the method of stochastic frontier analysis,this paper selects the transcendental log production function to calculate the efficiency of high-tech industry in 30 provinces(cities and autonomous regions)in China's mainland from 2001 to 2016.In order to fully understand the changes of the efficiency of high-tech industry and the source of the efficiency changes,this paper calculates the TFP growth rate of high-tech industry,the decomposition of TFP growth rate:the change rate of technical effectiveness,the change rate of technology,and the improvement of scale compensation.The results show that China's TFP growth rate fluctuated in 16 years,and was relatively stable with a downward trend from 2013 to 2016.Technological progress is the main reason for the growth of TFP.Due to the imbalance of regional development in high-tech industry,this paper calculates the efficiency changes of high-tech industry in eastern,middle and western regions,which finds that the growth rate of TFP in middle and western regions is higher than that in eastern regions.What's more,technological progress is still the main reason for the growth of TFP in each region.In order to promote the development of high-tech industry in China and improve the efficiency of high-tech industry,this paper discusses the influencing factors of the efficiency changes of high-tech industry in the whole country and in different regions of China.This paper studies the R&D capital investm ent,R&D personnel investment,enterprise growth ability,enterprise scale,the degree of foreign trade,fixed asset investment,the degree of financial development,the government support for efficiency changes of the high-tech industry,founding that except the degree of foreign trade will not affect the efficiency changes of high technology industry in the whole country,the other factors will affect TFP growth or its decomposition of the high technology industry in the whole country.There are regional differences in the influence factors on the changes of high-tech industry efficiency.Considering the unbalanced development of the high-tech industry in China,this paper takes the pharmaceutical manufacturing industry,the electronic and communication equipment manufacturing industry for examples to further study the efficiency changes of the high-tech industry.Through the estimation of the efficiency of two industries in 25 provinces(cities and autonomous regions)from 2001 to 2016,this paper finds that the electronic and communication equipment manufacturing industry is in the booming development stage,while the development momentum of the pharmaceutical manufacturing industry is relatively weakened.In 16 years,the average TFP growth rate of electronic and communication equipment manufacturing industry was higher than that of pharmaceutical manufacturing industry,and technological progress was the main source of TFP growth in both industries.Through the research and analysis of the influencing factors of efficiency changes in the two industries,it is found that the influence of eight influencing factors on efficiency changes in the two industries is basically the same as that of the high-tech industry as a whole,but there are some differences.Finally,according to the conclusion of this paper,some suggestions are put forward,such as attaching importance to technological progress,attaching importance to the development of high-tech industry in the middle and western China,implementing an efficiency-oriented investment policy on capital and personnel,and cultivating both small and medium-sized enterprises and industrial leading enterprises.