Innovation and Productivity Growth in Taiwan's Manufacturing Industry

[[abstract]]創新被廣泛認為是促進經濟成長的主要趨動力。自1980年代後期，台灣製造業的創新表現日益優異並獲得國際肯定，但創新對經濟成長的影響為何？本文以台灣製造業21個中類別產業為研究對象，使用1982年至2001年的縱橫資料檢驗創新與生產力成長之間的長期關係。透過時間趨勢圖與Panel共整合檢定的結果發現，持續增加的研發支出與穩定成長的生產力，似乎表示研發投入與生產力成長是有相關。此外，Pedroni共整合檢定的結果顯示，研發和生產力成長間存在共整合關係。但在考慮了橫斷面相依性之後，Westerlund共整合檢定的結果卻無法完全拒絕變數間沒有共整合關係的虛無假設，顯示研發與生產力之間不具有共整合關係。 Innovation is widely recognized as a main driving force of economic growth. Given the circumstance that Taiwan has devoted more and more efforts on innovation since the late 1980s, a question is posed: How the relationship between innovation and economic growth? This paper examines the long-run relationship between R&D and productivity growth for a panel of 21 industries over the period 1982-2001. Using time trend graph and panel cointegration techniques, we find that compared with the steadily increasing trend of productivity, the accelerating trend on the R&D expenditure seems to suggest R&D investment is relevant to productivity growth. Moreover, the results of Pedroni's test show that R&D and productivity growth are cointegrated. However, after controlling the cross-sectional dependence, the results of Westerlund's test show that R&D has no long-run effect on productivity growth