| Regional differences is a common phenomenon now. The analysis of the key factors leading to regional differences is the premise for solving current problems. Total factor productivity is an important measure of regional economic efficiency and economic potential. More and more studies have found that TFP plays a key role in the regional gaps. So it’s necessary to analyze the influencing factors of TFP, that is important for the research of regional differences.Intangible assets are the capitals with no physical form compared with tangible assets.It will influence TFP in technological progress, human capital and social capital accumulations. Our study aims on analyzing the influences of intangible assets, including human capital, technological capital and social capital------on total factor productivity, which basses on the the provincial panel data of China from 2003 to 2012.In the existing references, some study the impact of human capital or technological capital on TFP, fewer consider the role of social capital, but little classify them into intangible capital and analyze the influence on TFP. Our study analyze three kinds of intangible capital systematically, making up for the shortcomings of the existing factors on TFP in terms of intangible assets.When analyzing the impact of intangible assets on TFP, we use the spatial panel data model. Because spatial effect are often carried out by the interaction of trade, knowledge and technology exchange, capital flows and so on. Ignoring spatial effects will cause biases of the estimation results. We first use general panel model to estimate, but the conclusion is that it’s not a good result,which reflects the existence of spatial effects; Secondly we confirm the existence of spatial effects directly by autocorrelation test. So based on provincial panel data we establish spatial lag model and spatial error model,and choose spatial error model as our final model.Based on the results of the panel data and spatial error model we can conclude: Effects of three kinds of intangible assets on TFP’growth are significant. Thus, we conclude that:Intangible assets plays an important role for TFP.Also in the spatial panel regression model, we consider other factors on TFP. We add expenditure, industry structure, opening as other control variables into our model. Based on spatial error model we get the result of the impact of expenditure, industry structure, opening function on TFP.In the last part, we analysis the impact of intangible assets and other control variables on TFP and raise relevant measures based on the empirical research. |
