A Study On The Measurement Of China Regional Intellectual Capital And Its Spatial Spillover Effects

This dissertation constructs an accounting system of Chinese regional intellectual capital which includes regional human capital,regional relationship capital,regional structural capital and regional innovation capital.We design a spatial econometric model to account for regional spillover effects of intellectual capital.Specifically,regional intellectual capital index consisting of 45 indicators is constructed by factor analysis method using a panel data covering 31 provinces and a time span from 1998 to 2004.The spatial econometric models are estimated using 3 kinds of spatial weights matrices.These matrices are set separately according to adjacent relationship,reciprocal of transportation distance and combination of both the economic and geographic information.In the process of spatial econometric analysis,we firstly focus our interest on the overall intellectual capital spillover effects between provinces.Our analysis is further extended to 3 main district which enable us gain insights on how the spillover pattern varies when the overall data are analyzed in more detailed group regression.The main findings of our research are as follows: the inter-regional spillover effects are significantly positive whenever using adjacent matrix,transportation distance matrix or economic distance matrix.Specifically,the magnitude of intra-regional spillover effect is larger than that of inter-regional situation in the adjacent weights matrix settings.In which settings,the magnitude of spillover effect in ascending order is west region,middle region and east region.The magnitude of intra-regional spillover effect is less than that of inter-region situation in the transportation weights matrix settings.In which settings,the magnitude of spillover effect in ascending order is west region,east region and middle region,which indicates that while the geographic distance cannot be altered,the inter-regional intellectual capital flow can still be promoted by building roads that shortening the transportation distance.The magnitude of intra-regional spillover effect is larger than that of inter-regional situation in the economic distance weights matrix settings.In which settings,the magnitude of spillover effect in ascending order is middle region,east region and west region.As the regional districts are divided by their economic relations in which the national regional development policies are targeted to promote regional balanced development,which explains the why there exists larger inter-regional spillover effect.Since the Western Development policy is put forward firstly,the policy and economic connections among west region are tighter,which results to larger magnitude of spillover effect of intellectual capital.On the contrary,the strategy of the rise of central China is put forward lately.The cooperativity of the development of middle region is the worst,and the magnitude of spillover effect of intellectual capital is the least.