关键词: R&D资本化, R&D资本存量, TFP增长率, 随机前沿分析

Abstract: With the increasingly prominent role of R&D capital in economic growth and technological innovation, the accounting of R&D capital needs to be revised urgently. According to the framework of SNA2008 and CSNA2016, this paper regards the R&D as capital formation, measures the physical capital stock and R&D capital stock in various regions of China, incorporates it into the production function and uses the stochastic frontier analysis method to re-estimate the TFP growth rate from 1991 to 2019. It finds that, firstly the scale of China’s R&D capital stock shows an overall increase and regional agglomeration trend. Secondly, from 1991 to 2019, the average annual growth rate of generalized TFP growth rate is 2.10%, which has a positive effect on economic growth. Thirdly, after decomposing the growth rate of TFP into technological progress, cutting-edge technology efficiency and scale effect, it finds that technological progress contributes the most to the growth rate of TFP and is the leading force in promoting the growth of TFP in China, but it shows a decreasing trend year by year. Fourthly, with China’s increasing input and emphasis on R&D investment, the contribution of R&D to China’s generalized TFP growth rate has shown an increasing trend, and the contribution of R&D has gradually become the main force to promote China’s scientific and technological progress.

Key words: R&D Capitalization, R&D Capital Stock, TFP Growth Rate, Stochastic Frontier Analysis