笔者以中国历年专利申请数量作为技术创新代理变量,利用匹配的2004—2016年省级面板数据以及多种实证方法验证了对外直接投资(OFDI)的技术创新效应,以及要素市场扭曲对OFDI技术创新效应的影响。研究发现:中国OFDI显著促进了本国技术创新,且突出体现在原创性研究领域。基于要素市场扭曲的研究视角,笔者采用超越对数生产函数和岭回归法对要素市场扭曲程度进行测度的结果显示:中国资本和劳动力要素价格存在高估情况,两个要素市场亦存在扭曲现象,尽管扭曲程度不同,但均抑制了OFDI技术创新的产出和质量效应。在采用系统GMM方法解决了工具变量过度识别以及内生性问题之后,上述结论依然稳健。笔者建议:营造公平的融资环境,减少偏向性政策导致的资本要素错配以及效率损失,引导企业加大核心技术领域的原创性研究投入;深化劳动力供给侧结构性改革,注重人力资本积累对OFDI推动技术进步的长期影响;进一步深入探究要素市场扭曲抑制OFDI技术创新效应的传导机理,应是今后相关研究拓展的方向。
Abstract
Using the number of patent applications as the innovation agent variable and the matched province-level panel data spanning the period from 2004 to 2016, this paper examines the effect of OFDI on technology innovation and tries to answer the question how China's market distortion of labor and capital affects the influence of OFDI on technology innovation. The study found that: China's OFDI has obviously promoted technological innovation and the promotion effect is prominently reflected in the original research field. Based on the research perspective of factor market distortion, the author uses transcendental logarithmic production function and ridge regression method to measure the degree of distortion of capital and labor factor market. The results show that the price of Chinese capital and labor factor is overestimated and the two factor markets also distort. Although the degree of the two factor market distortion is different, the output and quality effects of OFDI technology innovation are suppressed. The above conclusions are still robust after using the system GMM method to solve the problem of over identification and endogeneity of instrumental variables. The author suggests: create a fair financing environment, reduce capital factor misallocation and efficiency loss caused by the biased policy, guide enterprises to increase investment for original research in the field of core technology; deepen the structural reform of labor supply side, pay more attention to the long-term impact of human capital accumulation on the progress of OFDI promoting technology; further exploring the research on the mechanism of factor market distortion restraining the technological innovation effect of OFDI should be the direction for further research in the future.
关键词
OFDI /
技术创新 /
要素市场 /
扭曲 /
专利
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Key words
OFDI /
Technology innovation /
Factor market /
Distortion /
Patent
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中图分类号：
F752
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