2014•Science & Technology and EconomyRequires access

Reasons for the Low R&D Innovation Efficiency:R&D Capital Shortage or Improper Allocation

Bai Yun-p

Abstract

The reasons for the low RD innovation efficiency in RD resources investment and their allocation perspective are examined.Findings show that: China's RD innovation efficiency is 0.67 and the RD capital allocation efficiency is 0.07 during2004—2009; RD investment intensity has a weak positive effect to the RD innovation efficiency,while RD capital allocation efficiency has a weak negative effect.This paper argues that improper allocation of RD capital is an important reason for the low RD innovation efficiency.This fully shows that it is very important and urgent to improve the current RD capital allocation efficiency.

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Key concepts: Capital allocation line, Investment (military), Economic shortage, Capital (architecture), Economics, Microeconomics, R&D intensity, Resource allocation