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| The Evolution of Chinese Technology Factor Market:the Perspective of the Theory of Market Sociology |
| An Yongjie1,2,Hu Beibei2,Liu Haibo1,2 |
| (1.School of Public Policy and Management, University of Chinese Academy of Sciences;2.Chinese Academy of Sciences Strategic Advisory Institute of Science and Technology, Beijing 100080, China) |
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Abstract Since its establishment in the 1980s, Chinese technology factor market (TFM) has become an essential driving force for optimizing industrial structure, transforming economic growth mode and promoting high-quality economic development. But compared with the holistic development of domestic market economy, TFM is underdeveloped. The existing studies have shown that TFM’s high risk, information asymmetry, positive externality make it highly complex and heterogeneous, which means its operation mechanism is different from commodity market, but these is a lack of discussion on this operation mechanism. Therefore, this paper conducts in-depth research on this aspect based on the market sociology theory to examine the forming process of dynamic and heterogeneous real markets as well as expounds the shaping effects of many social factors on market, such as government, social structure and culture.#br#In this study TFM is conceptualized as a complex, interconnected system consisting of three complementary and synergistic dimensions: government, social structure and actor. On the one hand, this study makes an historical analysis of each dimension, so as to make an in-depth characterization of the development characteristics of the three dimensions. On the other hand, through cross-dimension analysis, it further examines the linkages and synergies of government, social structure and actor to explore holistic evolution law and internal operation mechanism of the TFM. Based on the above research mentality and the framework, this study collects multi-source heterogeneous data including policy text, patents, technical contract turnover, proportion of different technical contract types and the numbers of market participants from Chinese official statistics between 1980 and 2020. Though analyzing these data by policy bibliometric analysis method, social network analysis method and descriptive statistical analysis method, this study carries out panoramic analysis of Chinese TFM to explore evolution law and operation mechanism in the TFM.#br#The results show that more than 40 years of historical evolution of Chinese TFM, the government, society structure and actor play different roles in cultivating and developing TFM, and are consistently unified and integrated with each other. The government’s roles are to establish institutional environment, invest in the generation of scientific and technological achievements, regulate market failure and improve market equality. Besides, it should be noted that the market transformation relies on the adjustment of the government roles, so the government needs to have a leading consciousness and take responsibilities of guidance and early warning for the development of TFM. The role of social structure is to change the way of distribution of social capital, transmission of market benefit and fair access to resources through mutual construction of relationship network and economic network. As to the actor’s role, the number of different types of actors adjust the structure of supply and demand to maintain and promote the market operation. Under the shaping effects of these three forces, the TFM has evolved from being dominated by redistribution mechanism to being dominated by market-oriented allocation mechanism, from monopoly of state-owned organizations to integrated development of state-owned and private organizations, from being insufficient in equalization effect to continuously being enhanced in equalization effect.#br#The research concludes that underlying issue of the TFM’s development is how to strike a balance between the role of the government and that of the market, and we should follow more closely the rules of the market and better play the role of the government. The theoretical contributions of this paper are as follows. Firstly, this paper put forwards a multi-dimensional analysis framework from the market sociology perspective with interplays between government, social structure and actor, which fills the gap between market and government in previous studies, and expands the concept and theoretical basis of the TFM. Secondly, it explores the overall evolution law of Chinese TFM, enriching the research of market sociology in the context of emerging country. Thirdly, it explores the application of multi-source heterogeneous data analysis method in TFM research, and makes up for the deficiency of previous qualitative research.#br#
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Received: 06 April 2022
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