2007 8,, R&D (R&D ), R&D Acemoglu (2001), 90 %R&D OECD, 35 %R&D R&D?, R&D, R&D,,,( ), () (), (Veblen,1904),,, Hobsbawm(1969), (),, Baumol (1990),,, :,

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1 : 3 :,, R&D,,,:,;,, R&D,,,,,, : (Schumpeter,1934),,, Romer ( 1990), Grossman and Helpman (1991),Aghion and Howitt (1992), R&D (Aghion and Howitt, 1998 ; Dinopoulos and Thompson, 1998 ; Segerstrom, 1998 ; Young, 1998 ; Jones, 1999 ; Acemoglu, 2002 ; Barro and Sala2I2 Martin, 2004 ; Lentz and Mortensen, 2005 ; Marimon and Quadrini, 2006 ; Comin and Hobijn, 2007), :,;,, R&D ;,,,,, R&D ( ), ( ),, 90 % 70 % 60 % 3,,, :430072, :ziyin com. cn (06BJ048), : ;,,;,

2 2007 8,, R&D (R&D ), R&D Acemoglu (2001), 90 %R&D OECD, 35 %R&D R&D?, R&D, R&D,,,( ), () (), (Veblen,1904),,, Hobsbawm(1969), (),, Baumol (1990),,, :, ;, ;, R&D,,,Murphy, Shleifer and Vishny(1991),,, ;,,,,,( ) (2003,2005), Acemoglu (1995),,,,,,,(history2dependence),,,,http :ΠΠgh. most. gov. cn

3 :,,,, ( ) R&D,,R&D,,( ),,,, R&D,,,,,,,, () Spence (1976),Dixit and Stiglitz (1977), Ethier (1982), Romer (1990),Barro and Sala2I2Martin (1995), i : 0 << 1, Y i Y i = AH N 1- iy j = 1 ( X ij ) (1), A H iy (Lucas,1988), () h,2 h h,l, ( ) h (0, ), H = 0 L ( h) hdh H Y,H R Romer (1990), Barro and Sala2I2Martin (1995),H U, : H Y + H U + H R = H (2) ( ), ( ), : L Y ( h) hdh + 0 L U ( h) hdh L R ( h) hdh = H (3) L Y,L R,L U,h (0, ),,,,,,,,, R&D 84

4 2007 8, X ij i j H iy X ij,, ( X ij ),,, N,,X ij = X i (1) : Y i = AH 1- iy NX i 1- = AHiY ( NX i ) N 1- (4) N, (4) H i NX i H iy NX i, N 1 - Y i N H iy, (4), N,X i, NX i X i, N, NX i, N, :,, Y,,w (, ) P j : : (5) : () max( Y i - wh iy - N P j = 1 j X ij ) 5 Y i Π5 X ij = P j = AH 1- iy X - 1 ij (5) 5 Y i Π5 H iy = w = (1 - ) ( Y i ΠH iy ) (6) X ij 1Π(1 - = H iy ( AΠP j ) ) (7) N,,, j X j,,, j Y,j : V ( t) = ( P j - 1) X j e - r( s- t) ds (8) t X j, r t s (A4) (A3) (8), t : () R&D 1Π(1- V ( t) = H Y A ) 1-2Π(1- ) t e - r( s- t) ds (9) 85

5 : Romer (1990),Barro and Sala2I2Martin (1995) (R&D ) R&D,,,,,,,,,;,,,,, R&D R&D (),,,,,,, 1, (9) V ( t),, R&D, () : ( H R ), ( ) > 0, ( ) > 0, :lim HR 0 ( H R ) = 0 ;(0) = 0,,:,, p = H U ΠH, p,,, : [ (1 - p + p (1 - ) ] V ( H - H R - H U ) - ( H R ) (10) (1 - p),p (1 - ) H R (10),: HR ( p) = [ (1 - p + p (1 - ) ] - 1 [ V ( H - H R ( p) - H U ) ] (11) (11) p,(10) : dhr ( p)πdp = - VΠ( + (1 - p + p ) V ) < 0 (12) H R ( p) p p > 0,H R, H R :,(12),,, R&D ;,,,,, ;,,,,,,;,(11), Barro and Sala2I2Martin(1995) ;Romer (1990), 86

6 2007 8,, q,, dqπdp < 0, q (1) = 0, R ( p), p ( p > 0,),R ( p) p R ( ) 0, R ( ) 0 [ (1 - p + p (1 - ) ] V ( H - H R ( p) - H U ) - ( H R ( p) ) = q ( p) R ( p) (13) (13),(13) R&D,,,,, ;,,,,,,,(13),,,,, r( t) r(9) (13) : 1Π(1- r = ( H - H R ( p) - H U ) A ) 1-2Π(1- ) 1 - p + p (1 - ) q ( p) R ( p) + ( H R ( p) ) (),Kurz (1968),Bakshi and Chen (1996),(1998),, : u ( c, a, ga) = ( aπga) - c 1- Π(1 - ) (15) 0 << 1,> 0 ; 1,< 0a, ga = aπl,l,c, u ( c, a, ga),u c > 0, u cc < 0 ; u a > 0, u ga < 0u c > 0, u cc < 0 u ga < 0,, u a > 0 : U = e - (- n) t u ( c, a, ga) ) dt, (16) 0,,n, r w,, w ( t), w r( t) a ( t) (14) r (B5),: (14) ga = w + ra - c - na (17) 87

7 : (1-1Π(1 - = { ( H - H R ( p) - H U ) A ) [ (1 - )Π] 2Π(1- ) p + p (1 - )Π[ q ( p) R ( p) + ( H R ( p) ] - - cπa (1 - ) }Π(+ ) (18),, a = V ( t), [ (1 - p + p (1 - ) ] V ( t) = ga (19), = { ( H - H R ( p) - 1Π(1 - H U ) A [ (1 - )Π] (1 - () 2Π(1- ) p + p (1 - )Π[ q ( p) R ( p) + ( H R ( p) ] - - cπga (1 - ) }Π(+ ) (20),, (1) 0 << 1,> 0,5Π5< 0, Duesenberry(1946) 1,< 0,5Π5 (2), a,5π5 a > 0 (20),,, (3) (a) H U,,5Π5 H U < 0 (b),,,5π5< 0 (c) p,,,,5π5 p < 0,,,,,,,, () :,(13),V E, (13), V R p, (11),: dv E Πdp = - V ( H - H R ( p) - H U ) < 0 (21) dv R Πdp = q ( p) R ( p) + q ( p) R ( p) < 0, p 0 (22) (21) (22),,, 1 1. (13), V R < V E,gp, [1 - gp + gp (1 - ) ] V ( H - H R ( gp) - H U ) - ( H R ( gp) ) q ( gp) R ( gp) (23) p [0,gp),(23) () (13) p, : ; R&D (13),,p, p 88

8 2007 8,,p = 0, V ( H - H R (0) ) - ( H R (0) ) > q (0) R (0) (24) : V ( H - H R (0) ) = ( H R (0) ) (25) R&D,: 1Π(1 - = [ ( H - H R (0) ) A ) 2Π(1 - ) (1 - )Π ( H R (0) ) - - cπv (1 - ) ]Π(+ ) Romer (1990),Barro and Sala2I2Martin (1995) 2. :,p = 1, V R = > 0, V E > 0,, V E = 0?,p 1 p 1, q 0, lim p 1, q 1 V E 0, V E 0,,V R = 0, V E > 0, (23), (24), 1,, 1 : (26) :p = 0,0 = V R < V E ;p 1, q 0,0 = V R < V E V R,V E Acemoglu (1995),p 1,, V R 0,p 2,,,,,, (), ; ;, p 2,,,,,,,,p 1,,,,,,p 1, p,p 2,: 1Π(1- ( p 2 ) = { ( H - H R ( p 2 ) - H U ) A ) [ (1 - )Π] (1 - p 2 2Π(1- ) + p 2 (1 - )Π[ q ( p 2 ) R ( p 2 ) + ( H R ( p 2 ) ] - - cπga (1 - ) }Π(+ ),: 1Π(1- ( p 1 ) = { ( H - H R ( p 1 ) - H U ) A ) [ (1 - )Π] 2Π(1- ) (27) 89

9 : (1 - p 1 + p 1 (1 - )Π[ q ( p 1 ) R ( p 1 ) + ( H R ( p 1 ) ] - - cπga (1 - ) }Π(+ ),:,R&D : (28) V E (0) > V E ( p 1 ) > V E ( p 2 ) (29) H R (0) > H R ( p 1 ) > H R ( p 2 ) (30) : (0) > ( p 1 ) > ( p 2 ) (31) R&D, R&D,, R&D, (),Acemoglu (1995),,, R&D,,,, () Acemoglu (1995),,(13),p,, : V E = (1 + ) (1 - p + p ) V ( H - H R ( p) - H U ) - ( H R ( p) ) > V R,, p,, R&D,,,,,, (17), (1 + ) (1 - p+ p ) V ( H - H R ( p ) - H U ) - ( H R ( p ) ) = q ( p ) R ( p ) (32) p > p,,, () 1.,, [Acemoglu (1995) ],,,,, 90

10 : p, H R ( p) r, : 1 ΠV E + gv E ΠV E = r (33) 2 ΠV R + gv R ΠV R = r (34) 1 = (1 - p + p ) V ( H - H R ( p) - H U ) - ( H R ( p) ) ; 2 = q ( p) R ( p), V E,V R V = V E - V R, (33) (34), V : gv = rv + q ( p) R ( p) - (1 - p + p ) V ( H - H R ( p) - H U ) - ( H R ( p) ) (35) gv = 0, p 3 ( t) V ( p 3 ( t) ) = 0p 3 ( t) > p ( t) ( p ( t),p 3 ( t) ), ;, p 3 ( t) < p ( t), p : gv = 0,V E = V R,, gp [ - np, np ],n, p,,, gv > 0,V E > V R,,gp = - np gv < 0,V E < V R,,gp = np 2., gv = rv + q ( p) R ( p) - (1 + ) (1 - p + p ) V ( H - H R ( p) - H U ) - ( H R ( p) ) > 0 p = 0,,,,,gV < 0,,, p = p 2,,, p 2,,, p 2,,,,,p = 1, V R = 0, p = p 1, p 1,,,,,p 1 0,, p 1 p 2,,,,, (36) 91

11 : 3.,,, (13), p,,,,,,,,,,,,,,,,, ;,,,,,,,,,,,,,,,,,,,,,,,,,,,(),, ( ) R&D, R&D : (),, Baumol (1990),Murphy et al (1991),Acemoglu (1995),, ( ), () (),,, () Romer (1990) R&D,, R&D, R&D, ( ) R&D 92

12 (), Acemoglu (1995), Baumol (1990),,,(R&D ),R&D, :(R&D ) ( R&D ) (R&D ) (),,,,, Baumol (1990) (2003,2005),,,,,,,,,, () 2 25 %, 0139 %,??,,?,,,,,, ,2003 :, 1,2005 :, 12 Acemoglu,D.,1995,Reward Structures and the Allocation of Talent, European Economic Review,39,. pp Acemoglu,D., 2002,Directed Technical Change, Review of Economic Studies, Vol. 69 (4). October, pp Acemoglu,D. and Zilibotti,F.,2001,Productivity Differences, Quarterly Journal of Economics 116,pp Aghion,P, and Howitt,P, 1992,A Model of Growth through Creative Destruction, Econometrica, 60, Aghion,P, and Howitt,P.,1998, Endogenous Growth Theory. Cambridge,MA :MIT Press. Barro,R and Sala2I2Martin,X., 1995, Economic Growth, McGraw2Hill,Inc. Barro,R and Sala2I2Martin,X., 2004, Economic Growth, Second Edition. Cambridge :MIT Press. Bakshi,G, and Chen,Z.,1996,The Spirit of Capitalism and Stock2market prices, American Economic Review 86 : Baumol,W.,1990,Entrepreneurship : Productive, Unproductive, and Destructive. Journal of Political Economy Vol. 98,No. 5. Comin,D. and Hobijn,B., 2007,Implementing Technology,NBER Working Paper No February. Dinopoulos,E. and Thompson,P.,1998,Schumpeterian Growth without Scale Effects, Journal of Economic Growth, December 3 (4),pp. Dixit, A. and Stiglitz, J., 1977,Monopolistic Competition and Optimum Product Diversity, American Economic Review, June. :, http :ΠΠgh. most. gov. cn

13 : June. August. August. Duesenberry, J., 1949, Income, Saving and the Theory of Consumer Behavior, Cambridge, MA : Harvard University Press. Ethier, W., 1982,Natinal and International Returns to Scale in the Modern Theory of International Trade, American Economic Review, Grossman, G. & Helpman,E.,1991, Innovation and Growth in the Global Economy,MIT Press. Hobsbawm, J., 1969, Industry and Empire from 1750 to the Present Day,Harmondsworth : Penguin. Jones, C., 1999,Growth : with or without Scale Effects?American Economic Review Vol. 89, No. 2, May pp Kurz, M, Optimal Economic Growth and Wealth Effects, International Economic Review 9,pp Lentz, R. and Mortensen, D., 2005,An Empirical Model of Growth through Product Innovation, NBER Working Paper No Lucas, R., 1988,On the Mechanics of Development, Journal of Monetary Economics 22, July, pp Marimon, R. and Quadrini, V., 2006,Competition, Innovation and Growth with Limited Commitment,NBER Working Paper No Murphy, K., Shleifer, A and Vishny, R., 1991,The Allocation of Talent : Implications for Growth, Quarterly Journal of Economics, May. pp Romer, P., 1990,Endogenous Technological Change, Journal of Political Economy, 98, 5. pp Schumpeter, J.,1934, The Theory of Economic Development, Harvard University Press. Segerstrom, P. 1998,Endogenous Growth without Scale Effects, American Economic Review, December 88 (5), pp Spence, M., 1976,Product Selection, Fixed Costs, and Monopolistic Competition, Review of Economic Studies June,pp Veblen, T., 1904, The Theory of Business Enterprise,New York : Scribner. Young, A., 1998,Growth without Scale Effects, Journal of Political Economy, February 106 (1), pp Zou, Heng2fu, The Spirit of Capitalism, Social Status, Money, and Accumulation, Journal of Economics, No. 3, Innovation, Allocation of Entrepreneurial Activities and Long Run Economic Gro wth Zhuang Ziyin ( Economics and Management School, Institute of Advanced Study, Wuhan University) Abstract :Based on the idea of Schumpeterπs entrepreneurship, this paper introduces allocation of entrepreneurial activities into endogenous technological innovation models. This paper points out the allocation of entrepreneurial activities determines the cross2 country difference in R&D input level, technological level and growth rates. In this paper, the reward structure of different economic activities determines the allocation of entrepreneurial activities, and the reward structure is endogenous and history2 dependent. Therefore, in order to increase R&D input level, technological level and growth rate, we must provide incentive for more productive innovative activities through political, economic, legal and cultural institutional arrangement, so that the economy can break the trap of low2income equilibrium and move to a developed equilibrium. This paper has two contributions : one is introduce the allocation of entrepreneurial activities into endogenous growth model, provides an explanation for the cross2country difference in R&D input level, technological level and growth rates. The other focuses the effect of the allocation of entrepreneurial activities on innovative activities, and examines the dynamic relation among the allocation of entrepreneurial activities, relative reward structure and technological innovation level. This paper has important policy implication for the National Strategies of Autonomous Innovation. Key Words : Innovation ; Allocation of Entrepreneurial Activities ; Unproductive Rent2seeking Activities ; Long2run Growth JEL Classification :O11, O31, O43 ( : ) ( : ) 94

2006 4,,,, TFP (,2003),, 90,,,, 2005,, ;,,,,,, (disembodied),,,, (,2003),,,,,, : y = Af ( k, l) : y, k, l, A, : = - -, ( ), ( ),,,,90,,,:,,,,,,,,,,,,,

: 3 :,,,,,, : -,,, (,1994,2002) ; (,2003) ; (, 2002) ; (,2005) ; (2006),,,,,, ( TFP, ),,, (,2005 ;,2005),,,,,,,,, 1997, 3, 4 2006 4,,,, TFP (,2003),, 90,,,, 2005,, ;,,,,,, (disembodied),,,, (,2003),,,,,,