Study on Innovation Efficiency of High-tech Industry in China Based on Two Stages ——Empirical Analysis of Provincial Panel Data

High-tech industry has been divided into technology development stage and technical achievements transformation stage.On the basis of Malmquist index method,innovation efficiency of high-tech industry in China has been estimated by us ing provincial panel data.The results show that average growth rate of total factor productivity of high-tech industry in China is 21.03% in technology development stage from 1997 to 2010.This mainly benefits from rapid improvement of technological prog ress and some improvement of technical efficiency.In technical achievements transformation stage,average growth rate of total factor productivity of high-tech industry in China is-6.05%,which is mainly due to obvious decreasing of technological prog ress.At the same time,the improvement of technical efficiency has been largely offset by technological progress.It is necessary to improve innovation efficiency of high-tech industry in China,which will help to accelerate industry development and en large spillover effect.Countermeasures should be actively taken to emphasize both technology development and technology achievement transformation.