Analysis Of Incentive Effects Of Government R&D Investment On Technology Transaction

In recent years,the number of patent applications and papers published increase rapidly in China.However,the problems of low conversion rate of technical achievements and insufficient technology transaction have not been changed.Concerning the situation of low technical transaction and the insufficient technology transaction in China,this paper study the incentive effects of government R&D investment on technology transaction,and study and measure the efficiency of government R&D investment from the perspective of technology transaction.Based on the theoretical basis of public goods nature,positive externalities,uncertainty and information asymmetry of R&D activity,this paper then theoretical expounds government R&D investment incentives on technology transaction by influence internal behavior decision of enterprises,stimulate the production and output of technological achievements of higher education and R&D institutions in China.And with the panel data of 30 provinces in China,we use the fixed effect model to empirically test whether government R&D investment of China has a significant impact on technology transaction.The empirical results show that government R&D investment can effectively stimulate technology transaction in China.But further empirical study show that government R&D investment on enterprises can effectively stimulate technology transaction in China,on higher education and R&D institutions cannot.Therefore,on the government R&D investment on higher education and R&D institutions,the incentive mechanism of R&D activities higher education and R&D institutions should be improved,more cooperation between universities,R&D institutions and enterprises should be promoted.And government R&D investment higher education and R&D institutions should adapt to the technological innovation.On the government R&D investment in enterprises,the government should increase R&D investment by the tax incentives,financial subsidies,financial policies,financing measures and so on.