Co-integration Analysis On Technology Market And Technology Innovation Of Shanxi Province

Presently, the humanity is experiencing a global science and technology revolution, and the people more and more realize the close relation of the competition, the development and the innovation.The world economic competition and competition in comprehensive national strength expressed profoundly as an innovative battle, technological innovation increasingly plays an important role in economic development and social progress, so how to realize the technological innovation is of great practical significance. For a country, innovation is not only a key factor of economic growth, but also an important symbol to measure a country's level of economic development and international competitiveness.The technology market plays an important part in the innovation system for supporting the development of technological innovation. As the important production factor market of market system, technology market is an effective way to promoting scientific and technological achievements into practical productive forces, through which we stimulate the transfer and diffusion of technology and the virtuous circle of technological innovation. Development practice of many countries show that in the technology-driven market economy the technology market with high efficiency is critical for the development of enterprises and the countries, it can achieve the close integration of technology and economy, promote economic development while improving the quality of economic growth, and improve fundamentally the country's economic competitiveness. Based on this, the paper focuses on the relation between the technology market and technology innovation of Shanxi Province and the paper mainly uses quantitative research methods.The study has the following main aspects:First,the concept of the technology market and technology innovation is defined. For the technology innovation, the concept of it is given on the basis of the definition of technological innovation at home and abroad. The paper also makes a distinction between the technology innovation and the other related concepts, such as the diffusion of technological innovation, technology diffusion and technology transfer, giving the analysis of difference and contact, hence allow us to better understand the technological innovation. For the technology market, this article gives a definition of it form the concept, market structure, business scope and function.Second, the relationship between the technology market and technology innovation is studied using the method of co-integration theory of co-integration, error correction model, Granger causality test, impulse response functions and variance decomposition analysis. The results showed that the technology market and technology innovation have a relation of mutual interaction and restraint, but in comparison, the role of technological innovation promoting the technology market is greater than the stimulation of the technology market to technological innovation.Third, according to the conclusions of quantitative analysis, the restricting factors of the technology market development in Shanxi Province are expounded and the suggestions on stimulating the technology market development are put forward to.