The Impact Of The Opening Of China’s Producer Services On The Innovation Efficiency Of Manufacturing Industry

Manufacturing industry is the pillar industry of the national economy.Over the past 40 years,through the "two ends out" processing trade model,China has integrated into the global division of labor by relying on the price advantage of production factors,realized the rapid development of manufacturing industry and created a miracle of economic take-off.In recent years,with the gradual disappearance of China’s demographic dividend and the profound changes of the international economic environment,China’s economy has entered a new normal.Under the new normal,the traditional extensive,high input,high energy consumption and low efficiency development model which rely on the cost advantage of production factors is unsustainable.In order to realize the adjustment and transformation of China’s development mode and the transformation and upgrading of industrial structure,innovation must play a driving role in economic growth,which also puts forward new requirements for the development of manufacturing industry.Affected by the industrial reform,the manufacturing servitization trend has increased significantly.Therefore,it is of great significance to reaserch the impact of producer services opening on manufacturing innovation efficiency.From the summary of the existing literature,scholars have fully studied the opening level of producer services and the innovation efficiency of manufacturing industry from different angles and using different research methods,but there is little research on the direct impact of the former on the latter.What’s more,most of the existing studies regard innovation activity as one input-output process,however,based on the innovation value chain theory,this paper divides the innovation process of manufacturing industry into two stages: R&D innovation and achievement transformation.On the basis of clarifying the impact mechanism of producer services opening on manufacturing innovation efficiency,this paper analyzes the opening level of China’s producer service industry,and measures the innovation efficiency level of various industries and links of manufacturing industry.Using the panel data of 28 manufacturing industries from 2011 to 2020,empirically tests the impact of the opening-up level of producer services on the innovation efficiency of manufacturing industry.Firstly,this paper sorts out the relevant literatures,defines the connotation of producer services and innovation efficiency,and summarizes the innovation value chain theory and manufacturing servitization theory,in order to provide theoretical basis for the this paper.On this basis,this paper analyzes the links of R&D innovation and achievement transformation of manufacturing industry,and finds three channels through which the opening-up of producer services affects manufacturing innovation:capital effect,competition effect and technology spillover effect.In the empirical research part,this paper first analyzes the current situation of China’s producer services opening from multiple angles and directions,and measures the innovation efficiency of different links of manufacturing industry segments from 2011 to 2020 from static and dynamic levels by using DEA-BCC model and DEA-Malmquist index model.On this basis,select variables to build a panel Tobit model for empirical test.The results show that the opening of the producer services to the outside world has a significant role in promoting the R&D innovation efficiency and the achievement transformation efficiency of manufacturing industry,and the role of promoting R&D innovation link is slightly greater than that of achievement transformation link.From the grouping regression results,except for the financial industry,the opening-up level of the other four types of producer services can significantly improve the R&D innovation efficiency of manufacturing industry,and the opening-up of financial industry,leasing and business services,scientific research and technical services can promote the achievements transformation efficiency of manufacturing industry;The opening-up of producer services plays a slightly less role in promoting the R&D innovation efficiency of high-tech manufacturing industry than that of low-tech manufacturing industry,and plays a slightly greater role in promoting the achievement transformation efficiency of high-tech manufacturing industry than that of low-tech manufacturing industry.In terms of control variables,in the process of R&D innovation,government support can improve manufacturing innovation efficiency,especially in high-tech industry.In the process of achievement transformation,enterprise scale and financial support both have a significant positive impact on manufacturing innovation efficiency.Enterprise scale has a greater impact on hightech manufacturing industry,and financial support has a greater impact on low-tech manufacturing industry.Finally,this paper puts forward three suggestions: promote the rational opening of producer services;actively promote the servitization of manufacturing industries;actively promote the construction of a collaborative innovation mechanism of "government,industry,university,research institutions and financial institutions ".