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| the Study of Factor Price Distortion, Industry Heterogeneity and R&D Input |
| Zhao Fusen |
| (College of Business，Shanghai University of Finance and Economics，Shanghai 200433，China) |
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Abstract It is a weak link to study the impact of factor price distortion on R&D input and industry differences in manufacturing industry from a meso-perspective.Under the background of industry heterogeneity, this paper clarifies the theoretical mechanism of factor price distortion affecting R&D input, then we use non-linear panel threshold model makes in-depth analysis by using sub-sectors of Chinese Manufacturing Industries’ data.The results show that factor price distortion has obvious restraining effect on R&D capital investment and R&D manpower investment in manufacturing industry, and Industry heterogeneity plays an important regulatory role in this process.Furthermore, we use panel threshold model is used to explore the effect of industry heterogeneity factors.The results show that there are significant differences in the impact of factor price distortion on R&D input among different threshold ranges of industry characteristics such as market competition, capital intensity, average enterprise size and openness.The study of this paper provides certain enlightenment for comprehensively deepening the market-oriented reform, optimizing the efficiency of factor resource allocation, improving the transformation and upgrading of independent innovation in manufacturing industry, and further promoting the construction of an innovation-oriented country.
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Received: 02 January 2020
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