An Economic Analysis on the Essentiality of the Biotech and New Pharmaceutical Development Act

• Main Authors: Yu-Chih Cheng, 鄭有志
• Other Authors: 李顯峰
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/39200771243799930965

碩士 === 國立臺灣大學 === 經濟學研究所 === 99 === The Biotech and New Pharmaceutical Development Act is promulgated before the implementation of the Industry Innovation Act in Taiwan. This study investigates the economies of scale of semiconductor industry, optical industry, and biotech and new pharmaceutical industry with the Cobb-Douglas production function. The sample contains 28 firms from the databank of Taiwan Economic Journal from 2004 to 2007. The Empirical results evidence that these three industries show the pattern of decreasing returns to scale. Furthermore, research and development is more important for semiconductor industry, while human capital mostly contributes to biotech and new pharmaceutical industry. Both research and development and human capital are important for optical industry.