The 364th Wenlan Financial Forum

Abstract：

Due to information asymmetry between the government and enterprises, firms' "subsidy fraud" behavior often prevents R&D subsidy policies from effectively incentivizing increased innovation investment, ultimately leading to limited enhancement of social welfare. Against the backdrop of continuous advancements in information technology, this paper focuses on China's innovation policy practices that base subsidies on firms' R&D capabilities and patent outputs. It examines the structural characteristics of optimal R&D subsidy strategies and their potential role in improving social welfare.

Speaker Introduction：

Guanchun Liu is a Yat-sen Scholar, Professor, and Doctoral Supervisor at Lingnan College, Sun Yat-sen University. He is a recipient of the National Young Talent Program and the Guangdong Natural Science Fund for Distinguished Young Scholars. He holds a Ph.D. in Economics from Fudan University. His primary research focuses on collaborative governance of public finance and financial systems, as well as economic growth in China. His academic work has been published in leading domestic and international journals, including Economic Research Journal, Management World, China Economic Quarterly, Journal of Management Sciences in China, The Journal of World Economy, China Industrial Economics, Journal of Financial Research, as well as internationally recognized journals such as Journal of Law, Economics and Organization, Journal of Economic Behavior and Organization, Journal of Population Economics, Journal of Corporate Finance, Journal of Banking and Finance, Journal of International Money and Finance, and Journal of Business Ethics. He has led key projects supported by the National Social Science Fund, as well as general and youth projects under the National Natural Science Foundation of China.