2000年後台灣國內生產毛額平均年增率出現衰退、台灣央行執行匯率貶值政策和持續成長的研發投入金額，導致2000年後台灣的經濟環境與結構出現變化。本文採用台灣2000年後成立的製造業廠商的追蹤資料，以探究全體製造業與高科技廠商的勞動生產力變化以及研發投入和匯率對勞動生產力之影響。結果顯示高科技產業與全體製造業的勞動生產力皆在初期快速增長、中期成長停滯、後期增長趨緩，且勞動生產力表現在高科技產業優於全體製造業。百分位數的分析可以發現高科技產業大多數廠商集中在勞動生產力較低的區塊，且勞動生產力百分位數排名較低的廠商之研發密度較高。迴歸結果顯示研發投入對勞動生產力成正向顯著的影響，並且在廠商特性中的原料與上一期的勞動生產力也呈現正向顯著，廠商年數、廠商規模與勞動資本比則呈現負向顯著。在匯率與勞動生產力的關係部分，2000年至2010年匯率與勞動生產力呈負相關、2011年至2019年呈正相關，顯示匯率對勞動生產力的影響具有時期性差異。

The decline in Taiwan's average annual GDP growth rate after 2000, a depreciation policy implemented by the Central Bank of the Republic of China and continuous growth in R&D investment led to changes in Taiwan's economic environment and structure. This study utilizes panel data from manufacturing firms established in Taiwan after 2000 to examine changes in labor productivity across the entire manufacturing sector and high-tech firms, as well as the impact of R&D investment and exchange rates on labor productivity. The findings indicate that labor productivity in both the high-tech sector and the overall manufacturing industry experienced rapid growth in the initial period, stagnation in the middle period, and slower growth in the later period. Additionally, labor productivity in the high-tech industry outperformed that of the entire manufacturing sector. Percentile analysis shows that most firms in the high-tech industry are concentrated in the lower productivity range, and those with lower percentile rankings in labor productivity have a higher R&D intensity. Regression results demonstrate a significantly positive impact of R&D investment on labor productivity. Other firm characteristics, such as raw material inputs and labor productivity from the previous period, also show significant positive effects. In contrast, the number of years a firm has been established, firm size, and the labor-to-capital ratio exhibit significant negative effects. Regarding the relationship between exchange rates and labor productivity, there is a negative correlation from 2000 to 2010, while from 2011 to 2019, the correlation turns positive, indicating that the impact of exchange rates on labor productivity varies over different periods.

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