Intellectual Property Protection,Financial Development and Innovation Efficiency of High Technology Industry——Analysis Based on Provincial Panel Data

This paper estimates the innovation efficiency of high technology industry in Chinese 30 provinces by DEA analysis method during the sample periodand analyze the effects of intellectual property protection and degree of financial development on the innovation efficiency.The result shows that financial development has significant positive impact on the innovation efficiency.And the regression test shows that the increase of financial development will positively increase the innovation efficiency.While there exists an inverse U-shaped relationship between intellectual property protection and innovation rate.It observes that a sharpening of intellectual property protection raises the innovation rate when intellectual property protection is loose.However,when protection is already tight a further increase can be harmful for innovation rate.