Empirical Analysis About The Efficiency Of Governments'R&D Subsidies In Zhejiang Province

R&D investment, one of the base conditions of carrying out R&D activities, is an important index measuring the ability of independent innovation in countries or regions. Enterprices are main parts of technology innovation, main role of carrying out R&D activities, and main resource of R&D investment. However, governments play an important role in promoting scientific technology progression. As a lever, governments'R&D subsidies will guide and drive enterprices to raise R&D investments, and enlarge the whole society's R&D investing supply amounts. However, governments'R&D subsidies also bring crawding-out effects on enterprices'R&D investments, because of externalities caused by governments and other possible reasons.Nowadays, which effect of governments'R&D subsidies plays a main pole in Zhejiang province? How the governments'R&D subsidies effect on folk R&D investments? How many the best governments'R&D subsiding rate is? How about promoting scientific technology progression? Studies based on these issues are meaningful for efficiently guiding R&D investments and raising Zhejiang's independent innovation ability.For the above problem, the paper analyses the leverage of governments'subsidies on enterprices'R&D investments and measures the efficiency of governments'R&D subsidies in Zhejiang province.Firstly, the paper gives an analysis on the current situation and the feature of Zhejiang's R&D investments comparing with other provinces, and finds out the adventages and disadventages of R&D investments in Zhejiang province.Secondly, by using the panel data model of industries and regions from2003to2009, the paper makes an empirical analysis about the impact of governments'R&D subsidies on enterprices'R&D investments, in order to explore the best governments'R&D subsiding rate. The results show that governments'R&D subsidies efficiently stimulate the enterprices'R&D investments, and that the best governments'R&D subsiding rate, which ranging from4%to18%, alters in different industries or regions. Another result is that more stable the governments' subsidies are, more efficiency the stimulating impact is.Thirdly, by using dogulas function, the paper makes an empirical reserch on the impacts of governments'R&D subsidy on sicentific technology. The results show that governments'R&D subsidies significantly promote the whole society's sicentific tachnology progression, more details show that the subsidies going to high schools seems best, and going to research institutions is better than to industry firms.Lastly, based on the above analysis, the paper thoroughly discusses the problem exists in the governments' R&D subsidies, and gives reasonable advice and solution.Overall, the paper makes quantitative analysis on the efficiency of govenments'R&D input and output in Zhejiang province by using multiple statistic methods, to give instruction and basis of achieving the best configuration of innovation resource and the largest leveage effect on governments'R&D subsidies.