关键词: 市场化改革, R&D资本投入, R&D资本投入, 高技术产业, Market-oriented reforms, R&D Capital Investment, R&D manpower input, High-tech Industry

Abstract: Market-oriented reforms affect R&D input through the ownership structure and the market environment which includes level of marketization and demand for new products and funding environment. This article selects the panel data of China’s high-tech industries during the period of 1995 to 2010, and using GMM method make an empirical analysis of the market-oriented reforms influence on the R&D input. The result shows that improvement of level of marketization and growth of demand for new products have significant positive impact on R&D input. Moreover the impact is more significantly after joining WTO. The improved funding environment promotes the growth of high-tech industry R&D input. Too concentrated state-owned property is against the growth of R&D capital investment, but it leads to too much R&D manpower input. Market power has a non-linear inverted U-shaped relationship with R&D capital investment and R&D manpower input. The influence of firm size on R&D capital investment is uncertain, but it has significant positive impact on the growth of R&D manpower input.