Abstract

As the role of technological progress in economic growth becomes increasingly prominent, the enthusiasm of governments and scholars on the research of technological progress still be consistent. The theory of advantage of backwardness suggests that developing countries can get advantage of backwardness from introducing or imitating advanced technology from developed countries in order to narrow the gap of economic development with it. But in recent years, the research on Chinese economic growth find that investment expansion is still the main driving force while the efficiency of investment declines, and the role of technological progress on the economy is still not significant. Domestic enterprises formed reliance on through imitating and purchase foreign technology. Enterprises embedded in the international industrial chain are forced into technology lock-in. From the reality of China, it is necessary to innovate and develope core technologies with independent intellectual property rights in order to form sustained competitiveness and space for growth. Since enterprises are the most important subjects in the national independent innovation system, and the objectives of countries in the pursuit of technological progress are not consistent with the enterprises during the technology choice. So the research on enterprises under the macro background of open economy can find some reasonable enterprises-and-market-led mechanism to rationalize resource allocation in order to promote national technological progress and economic growth.

First of all, the book sort out the research literature in a progressive system in three aspects: open economy and technological progress, technological progress and enterprises innovation choice, the analyze methods of enterprises innovation resources allocation under open economy, in order to providing research foundation for setting and expansion the theoretical model of the paper.

In the part of theoretical model, a two-step Cournot equilibrium game is set as a basic model. First, the enterprises innovation under a closed economy is discussed. Then, the hypotheses are gradually relaxed, the background is set in a limited open economy, the factors affecting enterprises innovation resources allocation in a limited open economy are explored. Finally, the twostep Cournot equilibrium game is placed in the completely open economy, and the influence of enterprises internationalization paths on the innovation resources allocation is analyzed. Based on the main conclusions of the theoretical model, the empirical model are set. By using micro data, four themes are deeply discussed: internationalization paths and enterprises innovation resources allocation, internationalization and enterprises innovation input, foreign direct investment and enterprises innovation efficiency, financing constraints and enterprises innovation. In order to explain the conclusions with micro data. Through the analysis and proof of theoretical and empirical part, the paper obtains the following conclusions:

First, in a open economy, the marginal trade cost, fixed trade cost, relative size of foreign market, difference between fixed trade cost and fixed investment cost et al. can change the position and size of segments corresponding to the Nash equilibrium of enterprises technology choice. The change of enterprises innovation resources allocation can affect its internationalization path, and when enterprises heterogeneity is concerned, the enterprises with high productivity can seize the first-mover advantage, use a more appropriate technology, and choose a conducive international path. The Nash equilibrium of enterprises innovation choice under a closed economy mainly depends on marker scale and decisions of competitors. Factors such as the difference of technology cost, demand response to price, product price can change the position and size of market segments corresponding to the Nash equilibrium.

Second, with an established international path, the enterprises have a motivation to change its innovation resources allocation. When all enterprises all choose export as the path entering international market, the change of marginal trade cost may lead different Nash equilibrium of enterprises technology choice with the one under a closed economy. Factors such as the relative size of international market, difference of technology cost may change the position and size of market segments corresponding to the Nash equilibrium.

Third, the empirical research shows that the increase of domestic and foreign demand, number of valid patents, tax relief, subsidy income, export and the age of the enterprises can increase the likelihood of choosing the technology portfolio which more conductive to the enterprises. But there is a certain group differences of the impact of these factors on the innovation choice, and after further study the elements of the technology cost variable, technological income doesn't show significant influence on innovation resources allocation, but have a significant positive correlation with investment of independent innovation and total input of innovation. The effect of tax reduction and subsidy on innovation resources allocation are still significant. All the effects above are almost significant as well in the research of enterprises technology input.

Fourth, the open economy affect enterprises innovation choice through the proportion of foreign investment, export, OFDI and import variables. The proportion of foreign investment affects innovation choice most. When the proportion increases, the likelihood of putting all the innovation resources into in-dependent innovation increase. The impact of technological input in different groups is mainly reflected in the increase of independent innovation. When the enterprises which foreign capital is dominated is excluded, the impact is not obvious anymore. Export can affect innovation resources allocation significantly, and the effect on technology input is selective. OFDI can promote the input of independent innovation only when the enterprises have adequate funding, and it cannot affect innovation resources allocation significantly. Import variable doesn't show any significant effect on enterprises innovation resources allocation.

Fifth, the behavior of foreign direct investment does have a strong promotion on enterprises'innovation input, and it also can stimulate the overall innovation behavior. Foreign direct investment has changed enterprises internal resource allocation path of innovation, and changed the enterprises'innovation selection. The role of imitation innovation in the behavior of enterprise innovation has improved, and it plays a leading role in the change of innovation efficiency.

Sixth, Financing constraints have a significant inhibiting effect on enterprises markups, and have a significant negative impact on enterprises innovation. Financial marketization can alleviate financing constrains effectively and alleviate the situation of limited innovation capital resources of enterprises. To further promote the degree of financial marketization, expand the ways of resources allocation, and enable enterprises to obtain higher innovation monopoly rents are effective ways to activate the innovation of Chinese enterprises under the background of financing constraints.

Keywords: Open Economy；Innovation Choice；Innovation Resources Allocation；Technology Cost；Nash Equilibrium；Export；Foreign Direct Investment；Markups