| It is found that the growth rate of total factor productivity is decreasing, at the same time the R&D investment intensity is increasing sharply from 2000 to 2012 in Shanghai. While according to the economic growth theory, R&D activity is the source of the total factor productivity. In this paper we explore the possible reason that can explain the decreasing efficiency of Shanghai R&D investment on the growth of total factor productivity.We use time series data to conduct econometric analysis upon the data concerning R&D investment inventory and intensity during 2000-2012. It is found that the input-output efficiency of R&D inventory is decreasing over time, therefore treasuring the consistency of R&D activity help improve its output efficiency.We use data envelopment analysis to investigate and decompose the input-output efficiency, comparing the technical efficiency, technical progress and scale efficiency of the resource and application structure of R&D investment. It reveals that treasuring the investment of R&D personnel help improve the efficiency of R&D capital investment. In addition, with patent licensing and patent application number as the intermediate output data, we measure and compare the efficiency of R&D investment at different stages. It is indicated that, the efficiency of R&D investment should be improved rather than simply expanding, especially the efficiency of patented technology commercialization. |
PDF Full Text Request