Abstract R&D price index, as an important deflator to deduct current R&D value into real term, is quite necessary for empirical researches. This paper elaborates the theory and empirical work of constructing the R&D input and output prices indices for Chinese industries. According to the empirical result, the R&D input prices (1998-2011) increased by 179 percentages, while the R&D output price increased by 190.82 percentages from the year of 2001 to 2011 for the whole industry. Compared to the R&D price indices we built in this paper, traditional price indices such as PPI, CPI and the GDP deflator as well as the deflators constructed upon them which are used by many Chinese scholars are likely to overestimate real R&D expenditures.
|
Received: 08 November 2013
Published: 15 January 2014
|
Corresponding Authors:
ZHU Facang
E-mail: zhufacang01@163.com
|
|
|
|