Abstract: Innovation is an important means to release the reform dividend .Only to break the bottleneck of factors and resources could stimulate the vitality of innovation. In this paper, by introducing the relative price to study the relationship of price distortion, mismatch of resources and innovation productivity. Firstly, this paper uses Global Cost Malmquist Luenberger model to decompose the innovation productivity and then uses the panel Tobit model to analyze the main influencing factors of innovation efficiency. The study found: the primary factors restricting innovation productivity progress is the efficiency of recourse allocation, price distortion directly affects the efficiency of recourse allocation; The efficiency of innovation can be improved by the improvement of market rate, opening degree and the level of human capital. The level of infrastructure construction and the degree of freedom of trade have led to the decline of innovation efficiency.

摘要： 创新发展是释放“改革红利”的重要手段，只有打破要素和资源的瓶颈，才能激发创新的活力。本文通过引入要素相对价格来研究价格扭曲、资源错配和创新生产率之间的关系，首先采用Global Cost Malmquist Luenberger指数模型将创新生产率进行了分解，然后利用面板Tobit模型分析了影响我国创新效率的主要因素。研究发现：制约我国创新生产率进步的首要因素是资源配置效率，价格扭曲直接影响资源配置效率；市场化率、对外开放度、人力资本水平可以改善创新效率；基础设施建设水平和贸易自由度反而导致了创新效率的下降。