| The efficiency evaluation of China's state-level high-tech industrial parks is facing new changes of reality: double circular economy,Sino-US trade war and COVID-19.In order to adapt to the new changes,.it is very important to reevaluate the efficiency of national high-tech industrial parksEndogeneity theory shows that four situations will bring endogenous problems:(1)explanatory variables are related to other explanatorvariables,which causes an explanatory variable to be related to the error term and results endogenous problems.(2)There is a two-way causality and dynamic feedback mechanism between the explanatory variable and the explained variable.while the traditional econometric model requires the explanatory variable to be strictly exogenous hypothesis.Violation of assumptions will lead to endogenous problems.(3)Measurement error: due to various reasons,there is more or less difference between the measured value of explanatory variable and the real value,which is part of the error term.It results in endogenous problems.(4)There is a reverse causal relationship between explanatory variables and explained variables.Some studies have shown that market structure,innovation and policy change are the determinants of the efficiency evaluation of national high-tech industrial parks.However,the related efficiency evaluation research has ignored the endogenous problem of efficiency evaluation of national high-tech industrial parks for a long time.Both theory and practice show that the synergy and cooperation of innovation activities,the spillover effect of innovation,innovation of industrial cluster,the changes of market structure and system,and the feedback mechanism between them and the efficiency of national high-tech industrial parks are important mechanisms of endogenous efficiency.This study attempts to construct the theoretical and empirical framework of endogenous efficiency evaluation of national high-tech industrial parks.This study is based on the new changes in the development of national hightech industrial parks: the trade war and science&echnology war between China and the United States are in the ascendant;COVID-19 still wreak havoc.China's economic double cycle.According to the endogenous theory of econometrics,we construct the theoretical framework of endogenous efficiency.The paper builds the endogenous efficiency logic of high-tech zones,such as innovation activities,market structure and institutional change.This provides a new theoretical perspective and theoretical framework for the efficiency evaluation of national high-tech industrial parks.It studies the change of efficiency more from the development of high-tech zone itself and considers the change of efficiency from the economic logic of High-tech Zone,so as to break the traditional evaluation method,while other studies of the efficiency of high-tech zone are based on the statistics perspective of quantitative relationship.The evaluation of endogenous efficiency can reflect the operation efficiency more comprehensively and accurately,meanwhile the researches enrich the efficiency evaluation theory,and improve the research framework of efficiency evaluation of high-tech zones.Meanwhile,this study provides an operable applied research framework.The endogenous efficiency evaluation is based on the correlation between explanatory variables and the causal relationship between explanatory variables and explained variables,rather than the pure quantitative statistical relationship between explanatory variables and explained variables.This paper studies the relationship between endogenous factors such as innovation activities,market structure and institutional change and the efficiency of national high-tech parks from the perspective of economy and industry.Then reevaluate the endogenous impact of innovation activities,market structure and institutional change on high-tech zones.The relevant research results will provide a certain reference basis for the government's macro policy-making.The main empirical findings are as follows:(1)It is necessary for us to evaluate endogenous efficiency of high-tech zones.we find that the effects and the estimation coefficient of Explanatory variables such as innovation level,market structure and institutional change are substantially larger when endogeneity is handled.(2)Theoretical and empirical results show that innovation level,market structure,institutional change,R&D expenditure and R&D personnel are endogenous factors that affect the efficiency of national high-tech development parks.After correcting the endogeneity,the innovation level,market structure,institutional change and other factors improve the inefficiency interpretation ability of national high-tech development parks.(3)If we use expenditure of scientific and technological activity and senior professional title personnel as instrumental variables of R&a D expenses and R& D personnel,it can effectively solve the endogenous problem,and the mean value of model estimation efficiency increases significantly.This means that traditional research methods underestimate the efficiency of nation high-tech development parks;(4)The threshold effect of innovation level is obvious,and the innovation level has the greatest impact on the efficiency evaluation of nation high-tech development parks;.After correcting the endogenous problems,the ability of innovation level to explain efficiency is improved significantly.However,when the innovation level is relatively high,the marginal effect decreases.(5)Using the gross industrial output value as the output measure,it is robustness of the model conclusion,the conclusion is basically unchanged.Future research should optimize the selection of instrumental variables,which improves the robustness of the research.Therefore,the government needs to improve the efficiency of national high-tech development zones by optimizing market structure,good institutional change and innovation level management.In the future,the choice of instrumental variables should be optimized to improve the robustness of empirical research.Therefore,the government needs to improve the efficiency of the new industrial park by optimizing the market structure,good institutional change and innovative management,and using the large capital strategy and the strategy of investing in the future. |
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