HIGH‐TECH AND HIGH CAPABILITY IN A GROWTH MODEL*
构建了一个增长模型，论证高科技高能力企业是持续技术进步引擎的常识，分析其如何利用创新潜力、产生知识溢出并推动增长，并探讨该机制难以跨国推广的公司治理原因。
A growth model is developed to substantiate the conventional wisdom that regards high‐tech high‐capability firms as an engine of sustained technological progress. High‐tech industries are characterized by abounding technological opportunities, which promote endogenous high capability firms due to a competitive escalation mechanism. While high‐tech high‐capability firms capitalize on and discharge the existing innovation potentials, they also contribute to recharge (due to knowledge spillovers). They are a source of growth and high wage rate. An inquiry into the reasons why the high‐tech/high‐capability growth mechanism is not widely adoptable across countries points to the role of the underlying corporate governance systems.