An Empirical Analysis Of The Capitalization And Production Efficiency Of R&D

This paper, in accordance with the SNA2008 diameter, has adopted a new method of analyzing R&D based on the theory and the method of R&D measurement with the related R&D measurement theories and methods from the U.S. Bureau of Economic Analysis, the Bureau of European Union Statistics, the national economic accounting system reform group of National Bureau of Statistics as reference. With the above method, this paper has done a quantitative analysis of related data on Guangdong’s R&D expenditure and has calculated its R&D capital stock. Based on the study of the capitalization of R&D and its important influence on national economic variables, the author then studies the efficiency of R&D input and output.This paper focuses on the change of GDP caused by the capitalization of Guangdong’s R&D according to the SNA 2008 diameter. From the theoretical derivation of the perpetual inventory method, this paper proved that the greater the depreciation rate of R&D is, the less it is that can be incorporated into GDP; and that the higher average growth rate of R&D expenditures are, the more it is that can be incorporated into GDP. Based on the results of general accounting methods of R&D calculated, it shows that The adjusted GDP of Guangdong province has increased by 1.33%, 1.41% and 1.52% respectively than the precious ones from 2011 to 2013.After the capitalization of R&D, the part of GDP that can be included in the part of GDP has increased by 66.88%,67.46% and 70.29% respectively than the previous R&D from 2011 to 2013, which shows a greater influence exerted by inclusion of R&D expenditure in GDP 2008 on the driving force of economic growth.This paper also analyzes the efficiency of the input and output of R&D in order to have a comprehensive understanding of the capitalization as well as the output efficiency of R&D. In R&D input and output efficiency of DEA, this paper has studied respectively the models of one-stage DEA, two-stage SFA and three-stage DEA, and the results indicate that each city generally has a high pure technical efficiency of R&D with Dongguan’s as the lowest which is 0.559, The pure technique and scale efficiency of the seven cities like Dongguan, Shaoguan, Qingyuan and so on, can be further improved, while Jieyang, Chaozhou, Heyuan and the fourth area of Yangjiang and Yunfu belong to the low level of scale efficiency, those cities should be improved in scale efficiency, the pure technical efficiency and scale efficiency of the rest nine cities have reached a certain efficiency value.