| China's economy has been transformed from a phase of rapid growth driven by quantity to a phase of high-quality development driven by innovation.In the context of China's implementation of innovation-driven strategy,how to effectively improve regional innovation efficiency is the key to the high-quality development of China's economy.To accelerate the implementation of innovation-driven strategy,the market needs to play a decisive role in resource allocation.However,since the reform and opening up,the development of China's factor market lags behind the product market obviously,and there are certain distortions,which are mainly manifested as the distortion of capital market,labor market and land market.The distortion of factor market will restrict innovation subjects--enterprises' innovation ability will be weakened when they use factors,resulting in loss of innovation efficiency and low innovation efficiency of the whole region.On the basis of relevant literature research,this paper describes the current situation of innovation development and factor market development in China in detail,constructs a mathematical model of the influence of factor market distortion on regional innovation efficiency,and systematically gives the transmission mechanism of the influence of factor market distortion on regional innovation efficiency.Empirically,choose DEA model to measure the regional innovation in 2003-2017 static efficiency and dynamic efficiency of regional innovation,and beyond the logarithmic function method is used in 2003-2017 capital market distortions and labor elements to measure market distortions,based on provincial level panel data,use a variety of measurement methods to empirical analysis on the capital market distortions and the influence of labor market distortions on the regional innovation efficiency.The results show that:Firstly,the static innovation efficiency level in China is not high on the whole.Only a few regions have static innovation efficiency value greater than 0.8.The dynamic innovation efficiency value has been improved a lot in recent years.Secondly,both capital factor market and labor factor market have negative distortion,and the degree of distortion of capital market is greater than that of labor market.Finally,capital market distortion and labor market distortion both significantly inhibit the improvement of regional innovation efficiency at the level of 1%.This inhibitory effect was significantly greater in the central and western regions than in the eastern regions,and significantly greater in the northeast,southwest and northwest regions than in the other five regions.There are some possible innovations in this paper,including:In terms of research methods,Based on the Solow economic growth model,a mathematical model of the influence of factor market distortion on innovation efficiency is constructed,which provides a reliable theoretical basis for empirical analysis.In terms of countermeasures,different countermeasures are proposed for different regions to adapt to local conditions.For example,the northeast region should accelerate the innovation of manufacturing industry,and the northwest region should seize the opportunity of "One Belt and One Road" to attract the investment of innovative enterprises to improve the innovation efficiency of each region. |
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