Does the Growth of R&D Promote the TFP Increasing — Empirical Analysis Based on 22 industrial sectors of China
Abstract
By using the panel data of the 22 industries from 2006~2012，the research shows that large R&D investment scale didn’t bring the fast increase of TFP as expected in China. In order to analyze the reason of this contradiction, this paper made the game model of division of labor between the upper and lower reaches of the industries to analyze the influence of human capital and vertical specialization to TFP. Then the paper use system GMM to make empirical analysis to inspect the game model. The results show that human capital does not help increasing allocative efficiency of R&D and vertical specialization does not promote the increase of TFP .
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