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《China Industrial Economics》 2019-11
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A Study on the Development Path of China's Strategic Emerging Industries:Big Market Leading

HUANG Xian-hai;ZHANG Sheng-li;School of Economics,Zhejiang University;Center of Research on Regional Economic Opening and Development,Zhejiang University;  
China's huge market provides enough space for the survival and development of strategic emerging industries. Based on a heterogeneous firm model, this paper explores the conditions under which strategic emerging industries conduct research and development in response to market shocks. The theoretical model finds that when the market demand expands, the market expansion effect will increase the RD investment of firms, and the market expansion effect is an increasing function of its market size and productivity; while the competition weakening effect will reduce the RD investment of firms, and the competition weakening effect is an decreasing function of its productivity, but its direction is uncertain with the change of market size. Empirical study shows that when faced with positive market demand shocks, the larger the initial market size, the more significant the market expansion effect and competition weakening effect. For firms with low productivity, the competition weakening effect is stronger; and when the productivity level reaches a certain stage, firms can invest in RD.The higher the productivity level of firms, the greater the incentive for firms to invest in RD. Further analysis and test results show that strategic emerging industry policy promotes the RD investment of firms, but it does not significantly improve patents of firms. However, for those industries with competitive advantage and firms with higher productivity, strategic emerging industry policy promotes its input and output of RD. Based on the theoretical model and empirical study, this paper puts forward policy suggestions for the development of strategic emerging industries.
【Fund】: 国家哲学社会科学基金重大项目“全球生产网络、知识产权保护与中国外贸竞争力提升研究”(批准号15ZDB156);; 教育部人文社会科学青年项目“全球价值链背景下进口中间品质量与中国出口企业竞争力提升研究:演进机理与优化路径(批准号19YJC790209);; 中国博士后科学基金特别资助项目“推进战略性新兴产业的跨越式发展:理论机理与中国路径”(批准号2018T110580)
【CateGory Index】: F276.44
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