Abstract
ABSTRACT This paper proposes a new framework for quantifying the misallocation of innovation resources and is among the first to estimate innovation efficiency gains brought by the reallocation in China’s manufacturing industry from 2012 to 2021. Our results show that the misallocation of innovation resources between manufacturing sectors has significantly alleviated. The misallocation of innovation manpower is more serious than that of innovation capital stocks. The study provides theoretical guidance and policy implications for the government to adjust the allocation of innovation resources.
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