Property Rights,Innovation And Economic Growth

Today, economic growth and development has become an important subject of the world. Innovation is the engine and source of economic growth. It has been proved by the world's modernization process, the rise and decline of various countries and the evolution of the world structure: Which country could take the lead in accomplishing the new scientific and technological revolution, mastering the most advanced scientific and technological achievements, its economy should develop rapidly, the society advance stridly, the national power strengthen obviously, and its international status could be raised accordingly.The 21st century is the era of knowledge-based economy. Innovation is its lifeline.With the advent of knowledge-based economy, knowledge productivity has become a determinant factor of a country's industry and enterprises competion.At present, the world's economic competition mainly focuses on the advanced technology. Every country is trying to promote its technology, seek high ground in knowledge economy and obtain competitive advantage, so as to develop rapidly, healthily and constantly.Innovation needs to be encouraged. On the one hand, innovation has characters of complexity, uncertainty and high risk; On the other hand, innovation achievement—knowledge and information has the attributes of public product, following intense overflow. Innovators'returns are usually not commensurate with the level of innovators'efforts. This will weaken their enthusiasm to be engaged in the research and development activities and cause innovators to be short of innovation seriously. In the long run, it must lead to exhaustion of the whole social innovation ability, especially industry's and enterprise's. Therefore, it is very necessary for us to design reasonable and scientific system to guarantee an inexhaustible innovation force. Such a system may give innovation achievement exclusiveness to avoid"benefit overflow"and make innovators'personal income rate close to the society's as much as possible.An effective property right system can prevent personal income(cost) deviating from social income(cost) thus to overcome innovators'"benefit overflow". Property right system can help innovators to obtain the rents coming from their innovation and bring them stable expectations based on clear ownership rights; on the other hand, property right system can promote innovation achievement to be spread and used, so as to provide people with further opportunities to innovate.Intellectual property right system is an important external property right mechanism for encouraging innovation because it has stipulated the right ownership of innovation achievements. Intellectual property right system defines reasonably the ownership of the income and other correlated right which the new technology brings through protecting the originality and claims of the new technology in order to encourage the enthusiasm of innovators.Human capital property right system respects innovators'work fully. It is the endogenetic force for human capital property right system that stimulates innovation enthusiasm and initiative of human capital and promotes human capital efficiency.Human is the body of innovation and human capital is the source and decidable factor of innovation. As an"active asset", the degree of human capital property right's realization will have a direct impact on the level of human capital efficiency, therefore, it affects the development of innovative energy directly. Once human capital property right is damaged, it would depreciate immediately and even leave nothing. Human capital property right system can stimulate the supply of human capital effectively and enhance the efficiency of innovator's activity through defining the rights and determining the distribution of incomes.Form the above understanding, this article takes innovation as the entry point, grasps the logical relations between property rights , innovation and economic growth, and carries out the research based on intellectual property right and human capital property right.The venation of this paper is approximately as follows:First, based on the factor analysis of economic growth, the writer has cleared up the relationship among innovation, growth, development, and the basic contents of innovation theory to show innovation is the motion and source for economic growth.This has established the theoretical basis for the following elaboration.Then, the article enters into the system analysis about innovation. It is an important guarantee for a good system environment to make innovation activities prosperous. Around the system environment, a two-dimensions model about innovation encouragement is built, which lays a framework for following analysis. This is also the center of this paper.Of the two-dimensions model, intellectual property right is regarded as the exterior dimension for innovation encouraging, while human capital property right system is regarded as the internal dimension for innovation encouraging. Focused on innovation, a necessary economy analysis has been carried on the two-dimensions property right so that a theory basis can be laid for mastering the two property rights'special economy nature and designing more effective property right system. Intellectual property right and human capital property right constitute a system of property rights to encourage and constrain innovation activity together.Accoring to the above analysis, an all-round experience test has been carried on in order to examine the pro-active effects on innovation coming from intellectual property right system and human capital property right system.Finally, this research is about Chinese correlated questions. According to Chinese realities, the article has analyzed objectively the achievementes and the insufficiency about innovation in China, explained it by using the above theory frame and raised some countermeasures and suggestions for improving and restructuring the two-dimensions property right system. Innovation points of this research are:(1)The visual angle of this research is novel. This article is based on innovation, focuses on property right and takes high-quality economic growth as ultimate goal, which is extremely rare in former documents.(2)This article has constructed a two-dimensions property right model, proposed that intellectual property right and human capital property right be two important dimensions for promoting innovation, which has made up for the insufficiency of previous correlated researches.(3)This article has dissertated the action mechanism of the two-dimensions property right system—intellectual property right and human capital property right system in promoting innovation development and verified it by a lot of empirical data and materials.(4)The two-dimensions property right system analysis has been integrated into the framework about strengthening independent innovation ability and constructing innovative nation in China, which has provided ideas to consummate and reconstruct the two-dimensions property right system so as to promote innovation level for the country.(5)This article is primarily based on economics research. At the same time, it comes down to many fields including management, law, psychology, sociology and ethnics.