| 刘青,黄荣荣,肖柏高.超大规模市场优势与企业创新战略——基于出口引致需求的视角[J].数量经济技术经济研究,2025,(5):48-70 | | 超大规模市场优势与企业创新战略——基于出口引致需求的视角 | | China’s Ultra-large-scale Market Advantage and Firm Innovation Strategy: Evidence from Export-derived Demand | | | | DOI： | | 中文关键词: 国内需求规模 出口引致需求 产品创新 工艺创新 新质生产力 | | 英文关键词: Domestic Demand Export-derived Demand Product Innovation Process Innovation New Quality Productive Forces | | 基金项目: | | | 中文摘要: | | 本文克服外生“国内需求”指标构建的困难，从出口引致需求视角构造下游出口引致的国内需求规模指标，并通过专利文本分析区分产品创新和工艺创新，运用工具变量模型考察了超大规模市场需求对企业创新战略的影响。研究发现，国内需求扩张显著促进了企业工艺创新，对产品创新有负向影响但不显著，企业呈现有偏于工艺改进的创新战略调整。作用机制方面，国内需求扩张有助于缓解融资约束和提升创新预期回报促进两类创新。但在知识产权保护缺位和产品同质化的不利条件下，产品创新预期收益弱化，企业将创新资源向预期回报更高的工艺创新集中，挤出了产品创新。异质性分析表明，超大规模市场需求的创新促进效应对成长期企业、技术前沿企业、产业龙头企业、成本竞争策略企业以及低竞争行业更加明显。本研究对新时期更好发挥超大规模市场优势，以产品工艺并重的创新驱动发展路径赋能新质生产力发展具有重要政策启示。 | | 英文摘要: | | The 20th National Congress of the Communist Party of China emphasized the importance of leveraging China’s vast market to drive technological innovation. Since the launch of reform and opening-up, China has introduced advanced foreign technologies into its economy by ceding portions of its domestic market. This approach has enhanced domestic technological standards but has simultaneously increased dependence on foreign technologies. This strategy of “trading market for technology” has inherent limitations. At the historical juncture of intensified global technological competition, weakened international circulation momentum, and the transformation of China’s economic development model, China should instead shift to a strategy of “creating technology through the market.” According to the National Development and Reform Commission, China’s total domestic demand is projected to surpass the combined total of the United States and Europe by 2035. The large-scale domestic demand market is thus increasingly playing a pivotal role in supporting the domestic economy and has become a key driver for technological innovation and the transformation of growth momentum.A substantial body of research has examined the role of demand-side factors in driving technological progress. However, relatively few studies have examined how domestic demand affects the allocation of innovation resources within firms, thereby influencing their innovation strategy choices. As a core prerequisite for developing new productivity, technological innovation can be categorized into two approaches based on its purpose and target: product innovation, which focuses on product diversification and quality improvement, and process innovation, which aims at cost reduction and efficiency enhancement. The “Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a Unified National Market” proposes that market demand should guide the effective allocation of innovation resources. Given that firms play a central role in technological innovation, the question arises of how, from the perspective of internal innovation resource allocation, do firms balance and coordinate their investments in product and process innovations under the pull of large-scale domestic market demand and adjust their innovation strategies accordingly? Understanding these issues is critical to harnessing China’s vast market demand advantage in the new era and promoting a shift toward an innovation-driven development path that emphasizes product and process innovations equally.This paper addresses the challenge of constructing an indicator of domestic demand that accounts for endogeneity by developing a metric based on downstream export-derived demand. Building on this, this paper differentiates product innovation from process innovation using patent text analysis and uses an instrumental variable model to examine the impact of large-scale market demand on firm innovation strategies. The results show that domestic demand has a significantly positive effect on process innovation but no statistically significant effect on product innovation, indicating that firms have a bias toward process improvements in their innovation strategies. These results remain consistent after a series of robustness checks. Our mechanism analysis reveals that domestic demand expansion mitigates the suppression of both types of innovation caused by financing constraints, with a more pronounced effect on product innovation. In addition, domestic demand expansion can amplify innovation returns; however, in environments marked by product homogeneity and insufficient intellectual property protection, process innovation incentives dominate and thus crowd out product innovation.This paper makes three key contributions. First, it focuses on China’s distinctive ultra-large-scale industrial demand advantages, which are shaped by industrial development and vertical specialization. In doing so, it broadens our understanding of the theoretical implications of ultra-large-scale market advantages. Second, it offers a cohesive analytical framework for assessing the influence of domestic demand on both the volume and direction of innovation, viewed in terms of internal and external innovation resource allocation within firms. Third, regarding indicator design, this paper introduces a set of product innovation and process innovation measurement methods based on patent text characteristics.The findings of this paper offer policy implications in three key areas. First, the government should accelerate the establishment of a self-reliant and stable domestic production system to support a full industrial chain that can leverage China’s vast domestic demand. This includes upgrading the industrial chain to maximize the benefits of domestic demand dynamics. Second, enhancing intellectual property rights protection is crucial for ensuring the success of innovative businesses and products, reducing unnecessary competition, and guiding large-scale market demand toward product innovation. Third, a strong domestic market means it is important to tailor innovation policies to the specific stages and needs of different enterprises, rather than using a one-size-fits-all approach. For example, providing long-term funding for startups and using government purchases to create a minimum market size can help new businesses overcome the challenges of early innovation. | | 查看全文 相关附件： 下载数据代码附录 |
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