Unraveling the dynamics of R&D and firm productivity: Empirical insights from 27 Chinese industries with regional and ownership differences

Xin-Yi Peng, Ching-Yi Lin and Te-Ke Mai

Finance Research Letters, 2024, vol. 59, issue C

Abstract: This study examines R&D input and productivity dynamics in the context of the "Made in China 2025" initiative in China. Analyzing over 4000 enterprises across 27 industries from 2016 to 2019, it uncovers regional and ownership-based variations in productivity and R&D levels. The study highlights the link between R&D efficiency and innovation and identifies negative relationships between productivity persistence, R&D efficiency, and uncertainty. Additionally, it explores the impact of subsidies and R&D variations in achieving the goals of the "Made in China 2025" plan. These insights are valuable for policymakers seeking to enhance competitiveness in China's evolving business landscape.

Keywords: Firm productivity; R&D spending; Ownership difference; Regional difference; Government subsidies (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:59:y:2024:i:c:s1544612323010772

DOI: 10.1016/j.frl.2023.104705

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