China's Technological Innovation Strategy Choice in a Perspective of Transaction Costs

From the perspective of transaction costs in a broad sense,the level of transaction costs is an important factor that impacts the technological innovation strategy choice.The transaction costs of the system which uses enterprise organizations to engage in innovations is far lower than that uses market organizations for innovation.But from the perspective of a country,we should also consider our technology level in the international context in the innovation strategy choice.Although the strategy of technology introduction will make developing countries induce huge intellectual property transaction costs,it will reduce the transaction costs in the fundamental and development research phrases and the opportunity costs based on time.The innovation in the domestic scope requires that the current innovation system in which the universities and colleges are the principal part of the innovation be reformed as soon as possible,and a new system in which enterprises are the principal part of the innovation and enterprise organizations are used to engage in independent innovation be established.