Influence Of Factor Preice Distortion On Innovation Efficiency Of High-tech Industy

This year is 40th anniversary of reform and opening up,and it is also destined to be a year for China to deepen the reform of all fields in an all-round way.The total demand for economic development at the present stage of China has changed from high speed to high quality.The structural reform of supply side is the main task of this stage.The essence of supply side structural reform is to let price mechanism play a role in eliminating factor price distortion.The supply side has been changed to the inventory,and the production capacity has achieved certain results,and the problem of overcapacity has been relieved.The next step of work needs to make up for the short board of scientific and technological innovation,improve the ability of scientific and technological innovation in China,improve the quality of products,and drive the innovation drive.As a leader in the field of technological innovation,the efficiency of high-tech industry determines whether our country can build an innovative country well,and whether we can seize the opportunities brought by the fourth technological revolution to achieve the high quality of economic development.Under such a background,this paper will study the influence of factor price distortion on the innovation efficiency of high-tech industry in China.It provides a theoretical and empirical explanation for China's comprehensive deepening of the reform of the factor marketization and the construction of an innovative country.Calculation of labor force in various regions of China by transcendental logarithmic production function and the degree of distortion of capital elements.Using the DEA method to measure the innovation efficiency of China's high-tech industry for 1998-2016 years.Finally,through the panel data regression model,the influence of factor price distortion on the innovation efficiency of China's high-tech industry.after the empirical analysis,This study finds that factor price distortion is negatively related to China's high-tech industry innovation efficiency,and the reduction of factor price distortion can enhance the innovation efficiency of China's high-tech industry.Therefore,in building an innovative country and achieving innovation driven process,we need to deepen the reform of factor market in China,eliminate or reduce the distortion of factor prices,and provide a good market environment for the development of high-tech industry in China.