| Science and technology (S&T) innovation is an important driving force to developments of economic entities. In the 21th century, many countries consider adopting a national innovation system as an important method to enhance competiveness. Chairman Xi stressed that we shall speed up the pace of innovation national wide in a number of important occasions. As a fastest growth rate industry and a main driving force in economic developments in present, high and new technology industry carries considerable weight in such progress. As a leading country in research and development (R&D) activities in high and new technologies among developing countries, China has initially established its own high and new technology industry. Therefore, it is necessary to study the R&D activities by the high and new technology industry in the aspect of advancing self-innovations. In this paper, we studied direct and spillover effects in R&D activities to the innovations; furthermore, we studied the differences of these effects among different industries, different time periods, different regions and distance intervals.On the other hand, in an effective S&T innovation system, enterprises are main bodies and cores of the innovations; competitions in domestic and international markets are driving forces for the innovations; government functions could lead, guide, support, manage and promote the innovations. In order to foster and encourage enterprises’S&T innovations, China began to introduce a series of policies and regulations in 1980s. Based on readings of the policies and analysis of impacts of these policies on guidance to enterprises’innovations, this paper studied the issue whether the direct, spillover and total effects of the innovations by the high and new tech enterprises have been enhanced.Based on the above topic, the study selects panel data of five Chinese high and new technology industries (Manufacture of Medicines, Manufacture of Aircrafts and Spacecrafts, Manufacture of Electronic Equipment and Communication Equipment, Manufacture of Computers and Office Equipments, Manufacture of Medical Equipments and Measuring Instrument) in 20 provinces and autonomous regions in China in a period of 1998-2013, with a total number of 1600 samples from China Statistics Yearbook on High Technology Industry, and uses Spatial Durbin Model to carry out the empirical analysis.This paper has a number of features. First, the paper is based on a series of policies relating to high and new technology enterprises. Selections of samples not only consider parameters used in other literatures, but also take parameters mentioned in the policies into account. Such selections make the findings more suitable for analyzing the policies. Second, there are few literatures that study the direct and spillover effects in high and new technology industry sector in domestic. Comparing with cross section data, provincial panel data and industry panel data, this paper uses provincial-industry panel data, which provides more unit information, more degree, more efficiency, and less co-linearity. In addition, longer time series allow for closer to the asymptotic theory. Third, in the study of inputs and outputs of R&D activities in the high and new technology industry, by using Spatial Durbin Model, i.e., considering the spatial correlation between dependant variables and independent variables, and between independent variables, this papers not only overcomes shortcomings of traditional econometric methods which are unable to catch the spillover effects, but also makes up for limitations of the Spatial Lag Model and the Spatial Error Model that only consider one single spatial correlation. The use of the Spatial Durbin Model could make regressions more accurate in calculating the direct and spillover effect of the R&D inputs.There are several main findings from the empirical studies by using spatial econometrics. (1) The direct and spillover effects of high and new technology industries’R&D inputs to outputs are positive and significant, i.e., both local and neighboring regions’inputs of intramural expenditure for R&D and full-time equivalent of R&D personnel positively and significantly facilitate local outputs of patent applications and sales revenue from new products. Studies on the different industries level show that the total effects are positive and significant while there are obvious contrasts in the direct and spillover effects of each industry. (2) After the issuance of the 2008 Administrative Measures for Recognitions of High and New Tech Enterprises and the Guideline, the direct, spillover and total effects of the inputs of intramural expenditure for R&D and full-time equivalent of R&D personnel to local patent applications has dramatically increased, evidencing the positive effects of the policies. However, due to the 2008 financial crisis, there is no strong indication showing an increasing in sales revenue from new products. (3) The direct and spillover effects of R&D inputs on R&D outputs in the eastern and central/western regions are also significant different. With respect to the total effect, the elasticity of R&D inputs to outputs of patent applications in the eastern region is higher than the central/western region; while the elasticity of R&D inputs to outputs of sales revenue from new products in the eastern region is lower than the central/western region. In the study of spillover effects in different distance intervals by setting the distance valves, the result shows that new technologies could offset influences of the distance to some extent, but not all.Based on the above findings, the paper suggests the followings to the current policies:further perfecting the administrative measures and related policies, improving human resources inputs and mobility, strengthening protections to intellectual properties, and emphasizing public interests.
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