Government Investment,market Investment And R&D Efficiency Of Universities

In recent years,scientific and technological innovation has been frequently referred to the level of national strategic development.Scientific and technological innovation plays an important role in China's new normal economic development.The nineteenth National Congress of the Communist Party of China has also clearly defined the important role of universities in the system of scientific and technological innovation in China.Before the reform and opening up,because of the public ownership of universities in China,government funds were the main source of funds.After the reform and opening up,the sources of investment in scientific research in China's universities have been greatly broadened.At present,the main sources of funding for scientific and technological innovation activities in China's universities are government sources and market sources.Although many scholars have studied the scientific and technological innovation activities of universities in China,they are mostly at the level of input and output as a whole,and have not implemented the two angles of government source and market source of R&D investment in universities.How these two heterogeneous R&D inputs affect R&D output of universities in China,what position they are in,how much contribution they make to the output of universities,how the interaction between government input and market input is,and how the degree of marketization and the comprehensive strength of universities affect the efficiency of R&D output of universities are topics worth discussing.This paper chooses the input and output data of R&D in 30 provinces from 1997 to 2016,uses panel threshold model and panel VAR model to measure the performance of R&D output of government input and market input in universities,tests the relationship between government input and market input,and compares the output performance of the two from different grouping angles.Finally,the conclusions of this paper are as follows:(1)Generally speaking,both government input and market input have significant positive marginal output,the marginaloutput of government input is larger than market input,and both of them show increasing scale efficiency;(2)Through the panel VAR model test of R&D input and R&D output.This paper finds that there is a complementary relationship between government input and market input,and government input will be in the next two periods while market input will have a positive feedback effect on government input in the next period.The government's guidance effect to the market is stronger than the market's feedback to the government.(3)Only in the areas with low marketization and weak comprehensive strength of universities can there be a significant first-order threshold effect,and at the same time,there is a significant increase in scale efficiency.