Estimation R&D Depreciation Rate Of Chinese Manufacturing

The R&D capital is the new knowledge created by R&D, it is intellectual capital, belong to intangible capital. It has the characteristics of capital: Productive, Profitability, Scarcity. Also have its own unique properties: dependency, indivisibility, non-competitive, some exclusive. The calculation of R&D capital stock have a lot of difficulties. The R&D depreciation is important parameter of R&D capital stock, but R&D capital is different with material capital, lack of accurate measure index and fixed depreciation pattern. The calculation of R&D capital depreciation is more difficult, can not use the method of estimate material capital depreciation rate.In order to estimate R&D capital depreciation rate of Chinese manufacturing, this paper summarizes the literature of domestic and international about R&D capital depreciation. Foreign scholars had created kinds of methods to measure this index, but the results difference with each other, some model work out the R&D capital depreciation rate close to0, even negative value. R&D capital is the knowledge capital, belongs to the intangible assets, so many economists think R&D capital will not depreciate over time. The small result of R&D capital depreciation rate seems to prove the point. New knowledge can lead to the old knowledge "out of date", R&D capital does exist depreciation, so R&D capital depreciation rate still exists a lot of debate, how to estimate R&D capital depreciation rate still failed to solve.This paper reference the foreign estimation methods of R&D capital depreciation rate, then combination with the characteristics of Chinese R&D statistical data, assume the economic system is completely competitive market, based on the maximum of profit and the cost minimization, create two different basic framework. By choosing different production function form measure R&D capital depreciation rate of28manufacturing industry in China.The results of model show that different model calculated results were differences. Our country manufacturing lack of reference standard about R&D capital depreciation rate, so this paper uses the method of BEA choose industry R&D capital depreciation rate for formulate2007R&DSA. Collect manufacturing industry’s estimation results of R&D capital depreciation rate, and assume extreme value produced by the model limitations, therefore industries calculated result of maximum and minimum value to be eliminated, count arithmetic average of the residual numerical. Finally got the estimate of R&D capital allowance for depreciation of28manufacturing industry.The results show that R&D capital depreciation rate of Chinese manufacturing industries distribution between15%and30%, most industry’s R&D capital depreciation rate concentration between20%and25%. The industry that R&D investment higher, that new knowledge constantly be produced and old knowledge quickly be replaced, has higher R&D capital depreciation rate, such as Manufacture of Communication,Computer, Other Electronic Equipment29.95%, Manufacture of Transport Equipment27.63%. The traditional industry that needs innovation weaker, put R&D investment in product patent of low levels innovation such as the appearance design patent, utility model patent and so on. These patent exist longer monopoly period, means that new knowledge be produced slower, old knowledge can create value in the long time. These industry has lower R&D capital depreciation rate.,such as Processing of Timbers, Manufacture of Wood, Bamboo, Rattan, Palm, Straw16.19%, Manufacture of Furniture15.84%...