| Productivity is one of the important indicators to measure the development level of the industry’s productivity. And the productivity is mainly affected by physical capital per capita, human capital per capita, natural resources per capita and technological level which is determined by industrial research and development (R&D) investment. Domestic and foreign researches confirmed from multiple perspectives that R&D investment has a significant promoting effect on the productivity. However, researches that study the relationship between R&D investment and productivity from the perspective of the construction industry are deficient.Therefore, this paper attempts to study the relationship between R&D investment and labor productivity in construction industry from international perspective and Chinese perspective. In international perspective, the paper firstly uses Pearson correlation analysis to study the relationship between construction industrial R&D investment improvement and labor productivity improvement, then uses extended production function model to analyze the impact of construction industrial R&D investment on labor productivity and its lag effect on the basis of the annual panel data of 19 Organization for Economic Co-operation and Development(OECD) countries in the construction industry over the period 1987-2011; In Chinese perspective, taking the time series data of Chinese construction industry over the period 1991-2011 as the object, this paper uses gray correlation model to study the degree of association between the lag period of R&D investment index and labor productivity, then analyzes the impact of R&D investment on labor productivity in Chinese construction industry and its lag effect by applying the distributed lag model.This paper obtains the following conclusions:(1) In international perspective, the study does not find that the current intensity of R&D investment has significant positive impact on labor productivity, but has significant lag effects which is sustainable in 1-4 years. The size of effect presents inverted U-shape in the lag period, and the greatest impact on labor productivity occurs after the R&D investment has been input for three years. (2) In Chinese perspective, the study discovers that the current intensity of R&D investment not only has significant positive impact on labor productivity, but also has significant lag effects in 3-4 years. The lag effects are fluctuant, and the greatest impact on labor productivity appears four years after the R&D investment was input. (3) Comparative analysis:compared with the regression results in international perspective, the output elasticity of the intensity of R&D investment in Chinese perspective is higher, while its impact on labor productivity is intermittent and not durable. |
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