Abstract：High-tech industries are standing for the direction of advanced technologies and strategic competitive industries.Optimizing the allocation of R&D factors and improving the innovation efficiency of high-tech industry are becoming an important way to effectively cracking low technology trap.As the special labor protecting policy and industrial policy,the minimum wage policy has a variety of impacts and indirect influence mechanisms on the innovation efficiency of high-tech industries.Based on the regional panel data,the stochastic frontier model is used to measure the innovation efficiency of regional high-tech industries,and multiple regression models are used to reveal the impacts of minimum wage.The regression results show that the increase of the minimum wage has significantly positive effects on innovation efficiency,and the sub-regional analysis also supports the results,but the impacts gradually decreases from east to west.Further stability tests using factor price distortion as an indirect factor find that the increasing minimum wage can improve innovation efficiency by suppressing market factor price distortions.The development of innovation infrastructure factors such as rationalization of factor compensation and alleviation of factor allocation distortion are the fundamental means for improving innovation efficiency.
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