| The reports of the 18th CPC National Congress put forward the idea that "scientific and technological innovation is a strategic support to improve the comprehensive national strength and social productivity". The innovation driven development strategy shall be implemented. The reform of science and technology shall be deepened, and the integration of technology and economy shall be promoted. We shall accelerate the construction of national innovation system, and build a market oriented technological innovation system which takes enterprises as the mainstay and combines production, study and research all together. Technological innovation and scientific and technological achievements will play a key role in the adjustment of Chinese economic structure and the quality improvement of economic development. While financial support will contribute to the innovation of science and technology and to the economic conversion efficiency of scientific and technological achievements. How to ensure the financial investment growth year by year and how much growth is needed? Where the financial investment should be allocated? How to distribute most efficiently? In what way can we achieve both the increase in technology innovation investment and the highly efficient economic conversion of scientific and technological achievements? These problems can be concluded to the financial resource allocation problem during the process of technological innovation and scientific and technological achievements economic conversion. Research on this problem has a very important theocratic and practical significance at present. Through the comparative analysis and data analysis, the conclusions are as follows:Firstly, the all-round chain management thinking shall be established for the transformation of scientific and technological achievements. The third part of the paper use the method of comparative study, which systematically analyzes the practical experience of promoting the transformation of scientific and technological achievements in six countries of US, Britain, Germany, Japan, and South Korea. The conclusion is that the transformation of current scientific and technological achievements has been converted from the traditional linear model to the network model. The six countries generally pay more attention to the transformation of scientific and technological achievements on the aspects of legislation and top-level design, and their general practice is to promote the transformation of scientific and technological achievements through financial support on innovation. Then in the fourth part,combining the process of scientific and technological achievements transformation, it is pointed out that currently in order to improve the efficiency of scientific and technological achievements transformation basing on the systematic theory, we must jump out of the box of the scientific and technological achievement itself and its transformation. Rather than simply evaluating the process through numbers of achievement registration and transformation rate, we shall set up the all-round chain management thinking, clearly define the scientific and technological achievements, and extend the management of the upper,middle and lower industries.Secondly, the data analysis part of this paper combined the theory of public finance and technology finance. From the perspectives of financial support and financial support respectively, the DEA model and Malmquist index method are used to analyze the dynamic efficiency changes of fiscal and financial support for the scientific and technological achievements transformation in China and eight integrated economic zones during the period of 2006?2014. The efficiency change of the transformation rate of scientific and technological achievements is estimated.At the same time, it also analyzes the utilization of financial resource in scientific and technological activities in every economic area. Thus, a theoretical guidance is provided for the resource utilization of national and regional science and technology development in the future. The data analysis found that:Firstly, the overall transformation efficiency of scientific and technological achievements of each province in China has showed an increasing trend. In the perspective of financial support, the Malmquist index of scientific and technological achievements transformation were 1.104 and 1.102 for finance and banking respectively, indicating that the efficiency of technological innovation in the period 2006?2014 has increased by more than 10%.Secondly, the financial resources for the transformation of scientific and technological achievements in China have not been effectively managed and fully utilized, while the growth of scientific and technological achievements conversion efficiency is mainly due to technological progress. This can be based on the technical efficiency change during the sampling period where the total factor productivity in the transformation of scientific achievements in China is greater than 1 and the decomposed technical efficiency change is less than 1 and technological progress change greater than 1.Thirdly, the growth of science and technology innovation efficiency in both of the provinces and municipalities and the eight integrated economic zones is mainly due to improvement of technological progress. This can be concluded through the Malmquist decomposition index, which shows that only through continuous exploration and promotion on the financing channels and methods on the development of hi-tech industries, can the finance be given a full play to the innovation in science and technology. The optimized allocation of financial resources, science and technology resources and financial resources can then be realized. The transformation of scientific and technological achievements can be promoted, and the utilize efficiency of the financial resources can be improved.Fourth, the coastal economic zone has the highest efficiency changes in financial support for science and technology innovation among the eight comprehensive economic zones in China, followed by the zone of middle and lower reaches of Yangtze River; and the efficiency of growth in the southwest and northwest regions with low level of economic development is relatively low. Therefore, the efficiency growth changes of financial support for technological innovation in China are in accordance with the regional economic development level. The higher the level of regional economic development is, the higher the transformation efficiency of financial support for scientific and technological achievements will be. Due to financial constraints, some regions have lower level of economic development. Therefore, the central government should increase finance and technology transfer payments, the economically developed coastal areas should also enhance the industrial technology transfer, in order to promote the technological innovation in the economically backward areas. Northwest Economic Zone has the highest efficiency change of financial support for scientific and technological achievements transformation, followed by the Southwest Economic Zone. While the efficiency growth in northern and southern coastal economic zones with the higher the level of economic development is relatively low.Therefore, the efficiency growth changes of financial support for the transformation of scientific and technological achievements are in contrast with the regional economic development level, which means it shows a diminishing marginal utility in the transformation of scientific and technological achievements in areas with higher level of economic development. This situation may cause excessive financial investment. Therefore,certain amount of investment should be properly adjusted to regions with lower level of economic development to promote the innovation in science and technology. |
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