A Study On The Effects Of Regional Institutional Transaction Costs On The Flow Of Regional Technological Factors

As an important goal of the market-oriented configuration reform of factors,the autonomous and orderly flow of technological factors is inseparable from the institutional arrangements and public services of the local government.In order to explore the impact of regional institutional transaction costs on the flow of regional technological factors,this thesis measured institutional transaction costs from the perspective of government services,and constructed the flow of technological factors based on patent transfer data among 199 cities in China in 2015.Combined with China’s prefecture-level administrative examination and approval,political-business relations and other data,it empirically tested the influence mechanism of regional institutional transaction costs on the flow of regional technological factors.This thesis found that lower institutional transaction costs can promote the flow of regional technological factors.Regions with lower institutional transaction costs can attract more technological factors from other regions,and the region’s technological factors will be more accepted by other regions.In addition,there are significant "siphon effect" and "synergistic effect" in the flow of technological factors between regions,that is,higher institutional transaction costs will cause the loss of regional technological factors,and technological factors will be fully used among areas with lower institutional transaction costs.Based on the results of this research,we believe that local governments should further reduce the institutional transactions cost,and break down barriers that hinder the flow of technological factors among regions through sound system construction and effective implementation mechanisms.The innovative points of this thesis are as follows:(1)The influence of institutional transaction costs on the allocation of technological factors is verified at the regional level,and the transaction cost theory and its internal mechanism are empirically confirmed;(2)We use the "large sample data" of 39,402 technological factors flowing among 199 cities in China to describe the characteristics of technological factors flowing between regions from a more precise dimension.(3)Based on the perspective of the transformation of government functions,we incorporate institutional transaction costs into the analysis framework of factors affecting the flow of technological factors between regions,which can provide a policy reference for the realization of innovationdriven local government transformation and public service improvement in the new development stage.