知识生产、创新与研发投资回报

关于现实经济支持哪种类型的知识生产函数一直是一个有争议的问题,知识生产函数的性质不同决定了经济发展特征也可能存在较大差异.基于内生增长理论关于知识生产函数的基本设定,本文首先给出了一个扩张形式的知识生产函数,而后根据1998-2007年我国31个省份的数据,通过面板数据模型考察了我国知识生产函数的性质.研究发现,相对于Romer(1990)类型的知识生产函数而言,我国现实经济更支持Jones(1995)类型的知识生产函数,这说明我国知识生产中没有规模效应(scale effect).在此基础上,根据Jones and Williams(1998)的方法,本文进一步估算了我国研发投资的回报率以及最优研发投资规模.研究发现,我国现实经济的研发投资回报率要高于资本投资的回报率,最优研发投资规模比实际研发投资规模更大.

Knowledge Production,Innovation and the Return to R&D Investment

It has been controversial about whether the reality supports the Romer(1990)knowledge production function or the Jones(1995)knowledge production function. Under the basic setup of the R&D-based growth theory,this paper offers an extended knowledge production function and studies China\'s knowledge production function with the provincial-level data during 1998-2007. We find that the facts of China support the Jones-type knowledge production function,rather than the Romer-type one,and there is no scale effect in China\'s knowledge production. With the method provided by Jones and Williams (1998),we estimate the return of R&D and the optimal R&D investment. We find that the return of R&D is higher than that of capital,and the optimal R&D investment is larger than the actual level.