货币政策与企业研发投入的研究

The Research on the Relation between Monetary Policy and Enterprises R&D Investment

选取沪深两市上市公司2010-2014年的数据,研究货币政策对企业研发活动的影响及该影响在不同所有制、行业的具体表现。主要结论是货币政策对企业研发投入强度有显著影响,我国企业的研发投资具有货币政策效应。具体来说,货币政策对研发投入强度的影响在国企和非高新技术行业更为显著。

This paper studied on the impact of monetary policy on R&D activities of enterprises and the specific performance of the impact in different ownership and industries,taking samples of Shanghai and Shenzhen listed companies from 2010 to 2014.The main conclusion is that monetary policy has a significant impact on the R&D investment of enterprises,and the research and development investment have monetary policy effect in China.Specifically,the impact of monetary policy on R&D investment is more significant in state-owned enterprises and non-high-tech industries.