Research On The Factor Distortion And The Innovation Efficiency

When General Secretary Xi Jinping inspected in Guangdong province stressed that the China reform needs enterprises should have a stronger ability to innovate in order to enhance the competitiveness of the market,so as to avoid being eliminated by competition.The distortions in the factor market will lead to the dislocation of resources,reduce production efficiency and inhibit innovation output.This paper firstly summarizes the background and significance of this article,and briefly describes the context of the article.This dissertation summarize the research of factor price distortions and innovation efficiency in China and abroad,and points out the research situation about the factor price distortions in china and abroad.And it points out the factor price distortion research status at home and abroad,the current domestic and international research on factor price distortions are mainly concentrated in the causes,the distortion measure and the influence of factor price distortions in three aspects.This paper points out the classical theory and measure method of innovation efficiency and the research status of the research situation.In the third part of the paper,the theoretical derivation of the relationship between the factor price distortion and innovation efficiency.It deduces the inhibitory effect between the factor price distortion and the innovation efficiency,base on the optimal choice of consumers,producers,under market clearing condition.Then this part puts forward proposition hypothesis.The forth part of this dissertation carries on the empirical analysis to the theory part.The data empirical analysis used is large and medium-sized industrial enterprises data from 1999 to 2013,and China statistical data.Then the influence of the factor price distortions and the innovation efficiency is analyzed by adding the control variables to the dynamic panel DIF-GMM.The final validation of factor price distortion has inhibitory effect on the efficiency of innovation.And the TFP change lead by the change of factor price distortion,will be smaller with the distortion goes by.Twist in the case of deep factor prices,improve the factor price distortion to bring innovation to enhance the efficiency will be very small,but in the improvement of late,to factor price distortion degree is small,the improvement of factor price distortion to bring innovation to enhance the efficiency of there will be great changes.Finally,the paper summarizes and puts forward some suggestions for improvement.