Innovation Driven,R & D Investment Of Manufacturing Enterprises And Balanced Development Of Regional Economy

After more than 40 years of reform and opening-up,China's comprehensive national strength has been significantly enhanced,but the imbalance of economic development between regions is still very prominent.At present,China's economic development mode is striving to change from factor-driven to innovation-driven.Whether in the economically developed eastern region or the underdeveloped western region,governments at all levels place scientific and technological innovation at the core of local economic development.However,from the current situation of regional scientific and technological innovation development,whether it is scientific and technological innovation input or innovation output,the eastern region is significantly ahead of the central and western regions.It is of great theoretical and practical significance to study the impact of innovation on the balanced development of regional economy and find an effective way to realize the balanced development of regional economy in China under the background of innovation driven development,which can also help to solve the current main contradiction in Chinese society.On the basis of summing up the theoretical and empirical research results at home and abroad,this paper starts with the analysis of the current situation of the spatial distribution and development of manufacturing production and innovation activities in provincial administrative regions and finds that the concentration of general economic activities,manufacturing production activities,general innovation activities and high-tech industry innovation activities increases in turn to the east(ministry regions).Innovation-intensive high-tech industries are mostly concentrated in the economically developed eastern provinces,the less developed western region has a weak manufacturing base,a single industry and a preference for resource processing-oriented industries,and a shortage of innovative resources.The econometric estimates using provincial panel data show that the eastern region has a higher manufacturing agglomeration and highly educated workforce,stronger innovative natural advantages of universities and scientific research institutes,better economic development bases and transportation infrastructure,and larger R&D spillovers from surrounding provinces.These factors play a significant role in promoting the input and output of innovation of local manufacturing enterprises.In the process of innovation-driven development,the speed and intensity of innovation in the eastern region will be faster and stronger than the central and western regions.The calculation results of convergence index and convergence index of provincial economic development show that the gap between regional economic development in China showed a trend of diffusion before 2006,and after 2006,it changed from diffusion to convergence.By further calculating the innovation conditional convergence index,this paper finds that the central transfer payment to locality is helpful to the convergence of the economic gap,but the innovation input disparity among regions is the resistance of regional economic convergence,of which the innovation input of enterprises,has the greatest influence on the evolution of the inter-provincial economic gap.The key to realize the balancing development of the regional economy is to stimulate the innovation activities of enterprises in less developed regions and improve their innovation performance.This paper further analyzes the decision-making process of research and development decision-making behavior and innovation output performance of manufacturing enterprises and uses this as a breakthrough to find ways to narrow the regional economic development gap under the background of innovation-driven development.Based on the theory of heterogeneity and R&D investment decision-making,this paper designs a two-way causality test between R&D investment and productivity of the enterprise and investigates the influencing factors of the enterprise's R&D input decision-making.By applying the Propensity Score Matching Difference in Difference method on panel data of Chinese manufacturing enterprises from 2005 to 2009,it finely examines the self-selection of firm R&D investment and estimates the real contribution of R&D input to productivity.It is found that the larger the scale of firms,the higher the profit margin of sales,the better the liquidity of assets,the more likely the enterprises will actively invest in R&D.After controlling many observable factors,the R&D investment self-selection effect of Chinese manufacturing enterprises is significant,and the higher the productivity,the more likely the enterprises to choose R&D.The R&D input of high-tech manufacturing enterprises has no significant effect on enterprise productivity,while the R&D input of medium-and low-tech enterprises with relatively less technology plays a significantly important role in improving firms' productivity.The productivity of R&D enterprises increased by 4.2% and 3.8% after one year of R&D investment,and 5.1% and 7% respectively after two years of R&D investment.The sub-regional studies show that in the less developed western region,the productivity improvement performance of the R&D input of the middle-and low-tech manufacturing enterprises is very remarkable,but the R&D investment of high-tech manufacturing industry has a significant obstacle effect to the improvement of the productivity of the enterprises.High-tech manufacturing in the western region of the research and development output performance is not good.The paper also examines the role of R&D input and R&D spillover between firms on firms' new product output.By constructing a general a two-stage R&D input decision-making duopoly model incorporating R&D spillovers and new product outputs,this paper estimates the impact of R&D spillovers on product innovation and R&D input decision-making by applying the Endogenous Selection Switching Regression Model to a rich dataset of Chinese manufacturing firms.It is found that,as a whole,intra-industry,upstream industry and downstream industry firms' spillovers can promote firms' product innovations,and firms with R&D input benefit more.Spillovers of intra-industry and upstream industry firms can enhance enterprises' R&D investment intention,while the downstream industry firms' spillovers can reduce the enterprises' own R&D investment intention.High-tech upstream industry R&D spillovers can promote product renewal of high-tech industry enterprises with R&D input.Except that upstream industry R&D spillovers have no significant impact on enterprise innovation without R&D input,whether or not enterprises have R&D input,R&D spillovers from all channels can promote product innovation of enterprises in the medium-tech industry,and three types of R&D spillovers can improve the willingness of enterprises in the medium-tech industry to invest in R&D.But for low-tech firms,the intra-industry and downstream industry R&D spillovers can crowd out enterprises' own R&D input.The above findings show that there is a high degree of heterogeneity in the level of economic development and comparative advantages among regions in China,and the formulation of regional innovation and development policies must be based on the actual situation of the region.In the eastern,central and western regions of China,we should focus on the development of industries that are compatible with the technological absorptive capacity of the region.It is difficult for Chinese high-tech enterprises to take advantage of the "late-mover advantage" with poor innovation performance.Governments at all levels need to create an inclusive and innovative environment,as well as provide enough financial input and fiscal policy support.The eastern region,which has the advantages of innovation and development,should focus on promoting the local development of high-tech industries,form high-tech industrial agglomeration areas and innovation growth poles,radiate and lead the development of innovation industries in the central and western regions.According to the economic law,the less-developed regions should develop the sector with comparative advantage,and compete with other regions in dislocation,so that they can continue to develop and gradually narrow the gap with the developed regions.Therefore,the less-developed central and western regions can pay attention to the important role of medium and low-tech industries in the innovation development strategy,and focus on promoting the development of medium and low-tech industries,especially the medium industries,in the region.At the same time,various measures should be taken to support the R&D activities of enterprises in medium and low-tech industries,so as to fully stimulate the innovation potential of enterprises.We should guide traditional industrial enterprises to achieve rapid development through innovation,thereby narrowing the development of disparity with the eastern region and achieving balanced development of regional economy.