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R&D Performance in Chinese industry

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Author Info
Gary Jefferson
Bai Huamao
Guan Xiaojing
Yu Xiaoyun
Abstract

This research, which investigates a set of fundamental relationships in the R&D literature, is based on an unusually rich set of panel data covering the population of China’s large and medium-size manufacturing enterprises. Using a recursive three-equation system, we investigate the determinants of firm-level R&D intensity, the process of knowledge production, and the impact of innovation on firm performance. Several results stand out. Overall, the statistical relationships within the model are surprisingly robust, including the contributions of R&D expenditure to new product (NP) innovation, productivity, and profitability. The roles of firm size, market concentration, and profitability in driving R&D effort parallel to those found in the US literature. We find that new product (NP) innovation accounts for approximately 12% of the total returns to R&D. Also, returns to industrial R&D in China appear to be at least three to four times the returns to fixed production assets.

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Article provided by Taylor and Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 15 (2006)
Issue (Month): 4-5 (June)
Pages: 345-366
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Handle: RePEc:taf:ecinnt:v:15:y:2006:i:4-5:p:345-366

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Keywords: Innovation R&D Chinese industry Productivity

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Jefferson, Gary H. & Rawski, Thomas G. & Li, Wang & Yuxin, Zheng, 2000. "Ownership, Productivity Change, and Financial Performance in Chinese Industry," Journal of Comparative Economics, Elsevier, vol. 28(4), pages 786-813, December. [Downloadable!] (restricted)
  2. Cohen, Wesley M & Klepper, Steven, 1996. "A Reprise of Size and R&D," Economic Journal, Royal Economic Society, vol. 106(437), pages 925-51, July. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Wendy Dobson & Paul R. Masson, 2007. "Will the Renminbi Become a World Currency?," Working Papers Series 10, Institute for International Business, Joseph L. Rotman School of Management, University of Toronto, revised Dec 2007. [Downloadable!]
  2. Rachel Griffith & Elena Huergo & Jacques Mairesse & Bettina Peters, 2006. "Innovation and Productivity across Four European Countries," NBER Working Papers 12722, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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