我国高技术产业R&D产出弹性及其投资边际收益率测算

Measure on R&D Output Elasticity and Marginal Rate of R&D Investment′s Return of China′s High-tech Industry

基于扩展的C-D生产函数,并对技术知识存量的测度方法进行了改进,运用1999—2009年我国高技术产业五大行业的面板数据,分别将R&D投资形成技术知识的滞后期设为1年、2年、3年和4年,实际测算了高技术产业R&D产出弹性,进而估算并分析了1999—2009年我国高技术产业五大行业的R&D投资边际收益率。结果显示:1999—2009年期间,我国高技术产业的R&D产出弹性存在拐点,五大行业的R&D投资边际收益率总体上呈下降趋势,且呈现出明显的行业特征。

Based on the expanded C-D production function,this paper uses the panel data of five high-teeh industries in China from 1999 to 2009 to calculate the R＆D output elasticity through improving the method used to measure technology knowledge stock and setting the lag phase after which R ＆D investment is transformed into technology knowledge being one year, two years,three years and four years, and then estimates the marginal rates of R＆D investmentls return of five high-tech industries during 1999-2009. The research results show as follows：there is a turning point of R＆D output elasticity during 1999-2009 the marginal rates of R＆D investmentrs return of five high-tech industries all take the downward trend during 1999-2009, and there is a close relationship between the marginal rate of R＆D investmentrs return and industriets characteristics.