Abstract: Government investment in basic research and applied research was introduced into Romer’s innovation-driven growth model. By solving general equilibrium and numerical simulation, it finds that government investment in basic research has greater effect on sustainable economic growth than that in applied research. In addition, it explored the Dynamic impact relationship among government investment in basic research and applied research and economic growth with data of 1991-2015 through time series Var model. The results show that firstly government investment in applied research has greater effect on short-term economic growth, but the effect on long-term economic growth by government investment in basic research is much greater. Secondly, maximizing the promotion to economic growth, government investment in applied research needs 5 periods, but government investment in basic research needs 8 periods, so government investment in basic research take longer to play the extreme positive role. Thirdly, government investment in basic research not only promote economic growth directly, but also drive government investment in applied research to promote economic growth indirectly. That is to say government investment in basic research is the engine of economic growth. Such findings provide theoretical and empirical foundation for government R&D policy-making scientifically.

摘要： 本文基于Romer创新驱动经济增长模型，引入政府基础研究与应用研究投资，通过求解一般均衡与数值模拟发现，政府投资基础研究比投资应用研究更有利于经济的持续性增长。在此基础上，采用1991-2015年中国时间序列数据，通过构建政府基础研究、应用研究投资与经济增长的VAR模型考察了三者之间的动态影响关系，研究发现：（1）政府投资应用研究虽在短期内可实现显著经济增长，但从长期看政府投资基础研究会获得更高水平的增长。（2）政府投资应用研究对经济增长的促进作用在第5个滞后期达到最大，政府投资基础研究对经济增长的促进作用在第8个滞后期达到最大，即充分发挥政府基础研究投资的经济增长效应需要相对更长的时间。（3）政府基础研究投资不仅可以直接促进经济增长，还可以带动政府应用研究投资从而间接促进经济增长，即政府基础研究投资是促进经济增长的源动力。本文研究结论为科学制定政府R&D政策提供了理论和经验依据。