Research On Coupling Relationship Between Sci-tech Finance And Regional Economic Development

With the deepening reform of market economy,China’s science and technology finance(sci-tech finance)has shown rapid development.Sci-tech finance organically combines the two most productive factors of the current times,sci-tech and finance,and increasingly affects the development of China’s regional economy.It has become an important driving force for stimulating China’s regional economic growth and promoting economic and social reform and sustainable development.On the one hand,the development of sci-tech finance is a vital measure for China to implement an independent innovation strategy,to speed up the construction of an innovative country,and to realize the great national rejuvenation at an early date.On the other hand,it is an inevitable choice for China to shift the modes of industrial layout and economic growth,and to promote ecomonic stability and sustainable development.Promoting comprehensive and organic integration of sci-tech finance and regional economical development is an important strategy for cultivating strategic emerging industries,realizing the transformation of economic development mode and establishing an innovative country.It has great practical significance for China’s economic structure and stable growth.From a systematic perspective,this dissertation is guided by the basic theories of regional economy,finance and econometrics.By spatial measurement methods,grey relational analysis,coupled coordination analysis,etc.,the coupling relashionship of sci-tech finance and regional economic development was systematically studied.From the perspectives of market,government,industry,society and space,sci-tech finance and regional economic development are two open and giant systems that affects each other.The key to forming the system from disorder to order is the synergism among internal order parameters of the system,whose degrees are decisive to the characteristics and laws of the system.Coupling degree is a reflection to the synergism measurement.Therefore,the coupling degree of sci-tech finance and regional economic development was defined as the mutual influence extent of the two systems.The size of the degree reflects the degree of organic integration of sci-tech finance and regional economic system.Firstly,the dissertation defined the concepts of sci-tech finance,regional economic development,coupling degree and coupling coordination degree.It also comprehensively and systematically elaborated the coupling relationship between sci-tech finance and regional economic development.The three types of structural coupling,functional coupling and effect coupling of sci-tech finance and regional economic development were put forward.From five aspects of “market-government-industry-society-space”,the mechanism of coupling and coordination of the two systems were described.It is considered that the coupling characteristics of the two systems contained features of systematic,open and potential.Secondly,by sorting literatures and combining with national conditions,this dissertation constructed comprehensive evaluation indices system for coupling and coordination of sci-tech finance and regional economy.The entropy method was used to measure the overall level of sci-tech finance and regional economic development from 1998 to 2016.Their temporal and spatial evolution at domestic,regional and provincial levels were explored.These results laid the foundation of the coupling relationship analyses of sci-tech finance and regional economic development.Thirdly,the coupling relationship between sci-tech finance and regional economy was studied.Through cointegration test and Granger causality test,the cointegration relationship between sci-tech finance and regional economic development was analyzed.The results show that there is mutual influence and long-term stable equilibrium relationship between the two.Based on the results,grey relational analysis was used to determine the degree of coupling between subsystems and elements in the two systems during the study period.Temporal and spatial evolution law of the coupling relationship between sci-tech finance and regional economic development were analyzed at both regional and provincial levels.The coupling characteristics were explored from time and space dimensions.Based on these,the coupling and coordination types were sorted by the coupling degree and coordination degree of the two systems,and the temporal and spatial evolution processes of these types were analyzed.Afterwards,based on spatial econometrics methods,main influencing factors affecting coupling and coordination development of sci-tech finance and regional economic development were discussed,which explained the interaction between sci-tech finance and regional economic development in more depth.Finally,the dissertation demonstrated the developmental pathways of sci-tech finance and regional economy based on previous theoretical construction and empirical analyses.According to the problems found in the studies,relevant countermeasures and suggestions were put forward.The study concludes that: 1.The spatial and temporal evolution of China’s sci-tech finance and regional economic development were significantly different between coastal and inland areas.2.Sci-tech finance was closely related to regional economic development with strong coupling effects.The coupling coordination degree of the combined system showed a three-stepwise change of “coastal-Yangtze River Economic Zone-inland”.3.By exploring the space-time evolution law of the two systems,the unbalanced coupling and coordination development was revealed.Slow increase and poor spatial correlation were found in coupling coorination degree of the systems.4.The results of regression estimation using spatial econometrics model showed that the factors affecting the coupling and coordination of sci-tech finance and regional economic development not only depend on the coupling and coordination degree of the two in the surrounding areas,but also on other factors(including market,government,industry,etc.).Market driving,securities trading and economy driving were the three main factors affecting the coupled and coordinated development of sci-tech finance and regional economy.5.According to the change of the types of coupling coordination degree in each region during the study period,the type of coupling coordination degree between sci-tech finance and regional economic development had a certain tendency with time.Three trend pathways of coordination,agglomeration and interaction existed in the process of coupling and coordination.6.In terms of suggestion and countermeasures of sci-tech finance and regional economic development,first,the government should actively play the leading role in implementing regional differentiation policies and promoting the construction of sci-tech finance service platform.Second,it is necessary to perform continuous structural transformation of financial institutions and optimize the allocation of sci-tech financial resources.Third,inter-regional information flow should be strengthened.Radiation range of the gathering areas should be expanded,and give full play to sci-tech finance and regional economic development for driving the surrounding areas.