政府创新补贴对中国企业创新的激励效应——基于U型关系的一个解释

The Incentive Effect of Government Subsidies on Innovation of Chinese Enterprises——An Explanation Based on U-Shaped Relationship

如何科学认识政府创新补贴政策对微观企业自主创新能力可能具有的激励效应,一直是该领域的重点和热点问题。本文运用2008—2014年全国企业创新调查数据库的微观企业数据,实证检验了政府创新补贴对企业私人性质创新投入可能具有的激励效应,主要发现是:政府创新扶持补贴政策对微观企业私人性质创新投入总体上呈现出显著的U型关系激励效应。这揭示了,只有当政府对企业创新补贴的规模达到一定临界值之后,方可对企业创新投入产生挤入效应;否则,其对企业创新投入造成的则是挤出效应。后续基于所有制类型异质性的分析发现,这种U型关系的激励效应,主要发生在民营企业样本中,且在其他所有制类型企业中并不存在任何的显著激励效应。这些独特的经验发现,既为该前沿领域提供了来自类似中国这样的发展中国家的重要经验证据,也为今后政府创新补贴政策的调整和改革提供了有价值的参考依据。

Understanding the incentive effect of government subsidies on the independent innovation ability of enterprises in China has always been a key issue in this field.Based on the unique data on enterprises of China Innovation Survey from 2008 to 2014,this paper empirically examines the possible incentive effect of government innovation subsidies on enterprises'private investment on innovation.The main findings are as follows:the effect of government subsidies on enterprises'private investment on innovation generally exhibits a significant U-shaped relationship.This profoundly reveals that only when the scale of government subsidies on enterprises'innovation reaches a certain critical value,can government subsidies produce a crowding-in effect on enterprises'innovation investment;before the critical value is reached,government subsidies will result in a crowding-out effect on enterprises'innovation investment.After splitting the sample by ownership,this paper finds that the incentive effect of the U-shaped relationship mainly exists in the subsample of private enterprises,and there is no significant incentive effect in enterprises with other types of ownership.These unique findings not only provide important empirical evidence from developing countries such as China,but also provide valuable reference for the adjustment and reform of innovation subsidy policies of Chinese governments at all levels in the future.