摘要
This paper builds an externality-based model with physical and R＆D capital, proves the linearity of technology functions, and derives two measures of spillovers from the relative differences between social and private rates of return. China＇s regional empiric studies exhibit a reverse direction of spiUovers between foreign invested firms and local economy and provide an estimation of the spillover measures of between 13% and 18%.
This paper builds an externality-based model with physical and R＆D capital, proves the linearity of technology functions, and derives two measures of spillovers from the relative differences between social and private rates of return. China＇s regional empiric studies exhibit a reverse direction of spiUovers between foreign invested firms and local economy and provide an estimation of the spillover measures of between 13% and 18%.
基金
Acknowledgements This paper is supported by the National Natural Science Foundation of China （No. 71073076）, the National Social Science Foundation of China （No. 07＆ZD009）, and Young Teacher Foundation of School of Business of Nanjing University. The paper is also a part of the ＂Studies on Economic Growth and Structural Transformation＂ which is a subprogram of the Research Center of Economic Transformation and Development, Nanjing University, an Innovation Base of Philosophy and Social Science of the Ministry of Education of China. We also appreciate all the helpful comments from ＂International Conference on Economic Integration in the Greater China Region＂, Macao, 2009.
