China’s Rising IQ (Innovation Quotient) and Growth : Firm-level Evidence / Hui He, Nan Li, Jing Fang.

Format:

Book

Government document

Author/Creator:

He, Hui.

Contributor:

Fang, Jing.

Li, Nan.

Series:

IMF Working Papers; Working Paper ; No. 2016/249

IMF Working Papers

Language:

English

Subjects (All):

Economic development--China.

Economic development.

Industrial productivity--China.

Industrial productivity.

Physical Description:

1 online resource (42 pages) : illustrations (some color), graphs, tables.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2016.

Summary:

This paper examines whether the rapid growing firm patenting activity in China is associated with real economic outcome by building a unique dataset uniting detailed firm balance sheet information with firm patent data for the period of 1998-2007. We find strong evidence that within-firm increases in patent stock are associated with increases in firm size, exports, and more interestingly, total factor productivity and new product revenue share. Event studies using first-time patentees as the treatment group and non-patenting firms selected based on Propensity-Score Matching method as the control group also demonstrate similar effects following initial patent application. We also find that although state-owned enterprises (SOEs) on average have lower level of productivity and are less innovative compared to their non-state-owned peers, increases in patent stock tend to be associated with higher productivity growth among SOEs, especially for patents with lower innovative content. The latter could reflect the preferential government policies enjoyed by SOEs.

Notes:

Includes bibliographical references.

Description based on online resource; title from PDF title page (ebrary, viewed February 17, 2017).

ISBN:

9781475567991

1475567995

9781475568172

1475568177