Industrial Technological Progress

Misallocation of R&D Resources and Loss of Green Innovation Efficiency: A Empirical Analysis Based on Data of China's High-tech Industries

  • Zhao Yulin ,
  • Liu Chao ,
  • Pan Maomao
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  • (1.School of Economics, Wuhan University of Technology, Wuhan 430070, China; 2.Hubei Provincial Research Center for S&T Innovation and Economic Development, Wuhan 430070, China ;3. School of Economics, Zhejiang University of Finance and Economics, Hangzhou 310018,China)

Received date: 2021-06-29

  Revised date: 2021-08-02

  Online published: 2022-03-03

Abstract

Since the reform and opening up, China's economy has achieved rapid growth through an extensive development model, and has become the second largest economy in the world. However, it is accompanied by excessive consumption of the ecological environment, which has caused a non-negligible impact on people's living environment. According to the "2018 Global Environmental Performance Index", China's environmental performance index ranks the 120th among 180 economies, and its air quality index ranks only 177th, which reflects the current imbalance between China's economic development and ecological civilization construction. The problem stands out. The construction of ecological civilization is related to the sustainable development of China. Under the current economic development environment, the realization of green innovation is of great practical significance to the realization of high-quality development of the Chinese economy. As a strategic industry that determines national competitiveness, high-tech industry has the characteristics of high investment, rapid development, high proportion of scientific research personnel and strong penetration into other industries. The level of its innovation capability has an important impact on China's innovation-driven strategic transformation. According to existing research, the TFP of China's high-tech industries in 2014 was only 37.6% of that of the United States. Resource misallocation is considered to be the main reason for this difference in production efficiency. Hsieh et al also pointed out that if the resource allocation efficiency of China's manufacturing industry could be comparable to the level of the United States, TFP would be increased by 30% -50%. This reflects that the gap between China and developed countries is not only at the technical level, but also cannot be ignored in the efficiency of resource allocation, which means that there needs great improvement for the efficiency of green innovation by improving resource misallocation. Based on this, this paper takes the high-tech industry as the research object, starts from the perspective of R&D resource mismatch, and studies the loss of green innovation efficiency caused by it, so as to provide theoretical reference and policy inspiration for improving China's high-tech industry R&D resource mismatch and improving green innovation efficiency.#br#This paper uses the panel data of 30 provinces, municipalities and autonomous regions of China's high-tech industries from 2000 to 2018 to measure and analyze the green innovation efficiency, R&D resource mismatch and green innovation efficiency of China's high-tech industries. In terms of research methods, this paper first adopts the literature analysis method. By sorting out and commenting on the existing literature, the research direction of this paper is obtained, and the influence mechanism of the R&D resource misallocation caused by the loss of green innovation efficiency is revealed, and the theoretical basis of this paper is constructed. In the empirical link, the Super-SBM and HK models are used to measure and analyze the current situation of green innovation efficiency and R&D resource mismatch in China's high-tech industries, using the systematic GMM method to empirically test the impact of R&D resource mismatch on green innovation efficiency. On this basis, the counter-factual empirical method is used to measure the degree of efficiency loss.#br#The research conclusions of this paper are as follows. (1) From 2000 to 2018, although the green innovation efficiency of China's high-tech industries showed a rising trend, the overall level was still low, and there was room for improvement. The average green innovation efficiency was only 0.462, and the average increase The speed is 12.6%. (2) China's high-tech industries have obvious mismatches of R&D resources. The average mismatches of R&D capital and R&D manpower are 1.42 and 1.33, respectively, which are all over-allocated. (3) The mismatch of R&D resources has a significant inhibitory effect on the efficiency of green innovation. As a whole, the loss value of green innovation efficiency in China's high-tech industries is 0.0614. By eliminating the mismatch of R&D resources, the efficiency of green innovation is increased by 26.4%.#br#The innovations of this paper mianly cover three aspects. Firstly, the influence mechanism of the R&D resource misallocation resulting in the loss of green innovation efficiency is revealed. Secondly a more scientific measure of green innovation efficiency in high-tech industries is designed. Lastly the loss value of green innovation efficiency caused by the mismatch of R&D resources in China's high-tech industry is measured.#br#

Cite this article

Zhao Yulin , Liu Chao , Pan Maomao . Misallocation of R&D Resources and Loss of Green Innovation Efficiency: A Empirical Analysis Based on Data of China's High-tech Industries[J]. Science & Technology Progress and Policy, 2022 , 39(4) : 49 -59 . DOI: 10.6049/kjjbydc.2021060715

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