Research On The Formation Mechanism And Development Model Of Science And Technology Financial Center

Finance plays a pivotal role in discovering, leading and supporting technological innovation and its industrialization. The spatial agglomeration of venture capital,financial institutions of science and technology such as technology bank, innovative talents and technological resources such as science-and-technology enterprises forms technological and financial centers, which is the driving force of the innovational success in many developed countries and emerging economies. This dissertation researches on the definition of technological and financial centers, the mechanism of the spatial agglomeration of technology and finance and how to cultivate and develop technological and financial centers in our country.Technological and financial center, as distinct from common technological center or financial center, is a completely new concept. Revolved around the theory of technological innovation and based on financial development and Spatial Economics,this dissertation provides a systematic interpretation of the definition, connotation,nature, function and constitution of this notion. By integrating crossing theories, this article gives an overview of the theories on the interactive development technology and finance. It also constructs a comprehensive theoretical system of technological and financial centers and realizes the deepening and innovation of financial development and Spatial Economics and therefore provides the theoretical basis for the analysis of the whole article.This dissertation borrows the LS model of spatial economics and incorporates it into the research framework of the agglomeration of technological and financial centers. Thus, it constructs the LS model for technological and financial centers and illustrates the forming mechanism of technological and financial centers in depth.This theoretical model proves that technological resources, factor endowment and degree of economic openness are the key elements deciding whether a city or a region can become a technological and financial center and that once formed, a technological and financial center can further realize the transformation from technological innovation to actual productivity and then generate a regional spillover effect.By focusing on and examining the development modes of technological and financial centers from a global perspective, this dissertation gives a summary of various modes in market-oriented economies, government-led economies and intermediate economies and studies the classic development experiences in all three types, in the hope of finding the correct path for the building of technological and financial centers in our nation. This dissertation also establishes the indicator system of building technological and financial centers and gives an objective evaluation on the development level of technological and financial centers in 36 cities in China via factor analysis. It also studies the key driving factors influencing the development level of technological and financial centers in our countries by using impulse response function method of PVAR mode and thus lays a foundation for proposing the countermeasures in developing the technological and financial centers in our country.Technological and financial center started late in China and is still in its early stage of development. This dissertation proposes the building of a government-led technological and financial centers in China by following a regional non-balanced development strategy, cultivating multi-supply capability of technology and finance and nourishing a sound market environment. By doing so, China will accelerate the building of its technological and financial centers and realize its innovative development.The main task of this dissertation is to provide a systematic theoretical analytic framework for and initial empirical research on this new subject of technological and financial center.