R&D Efficiency Evaluation of China's High-tech Industry Based on Stochastic Frontier Approach

In recent years,the government and the society attach great importance to technological innovation capability of high-tech industry,but the rapid growth of RD capital investment does not bring the proportional increase of RD achievements.In this paper,by using stochastic frontier production function,and focusing on the conversion efficiency between the input and output of innovation,the RD input-output stochastic frontier model is established as well as the measurement model of the influencing factors in this respect.Besides,the trend of efficiency changes of technological innovation of China's high-tech industry is evaluated and the RD capital output elasticity of China's high-tech industry and that of the sub-industry are analyzed.