The Research On The Impact Of The Financial Support For Technological Innovation

With the social and economic development, technological innovation has become the core of enterprise development; and is the key element to promote the economic growth in modern society. The study of the effect and efficiency of the financial development promoting the technological progress has important practical significance for the consideration of deepening China's financial development model and improve the financing environment of enterprise, serve the technological innovation and economic development better. The logic route of this paper is: International Comparison - Model Evaluation– Proposals. The author researched the technical innovation and financial support, with a literature survey and the research of the policy arrangement and the achievement approach of financial support for technological innovation at home and abroad, make an empirical analysis of the financial system led model and financial development on the impact of technological innovation. The main conclusions are as follows:⑴By the empirical analysis of the influence of our country's financial system led mode to technology innovation, the author found that the amount of China's capital market financing for loans with financial institutions have played a catalytic role for technical innovation, but there are differences in intensity. This indicates that the current dominant model of domestic financial system is not suitable for technological innovation and does not bring a significant promote for the technological innovation development.⑵By the empirical analysis of the influence of capital investment for technological innovation, the author found that technological innovation of domestic enterprises still exist the problem of financing difficulties and insufficient financing etc. Technology innovation is mainly funded by enterprises. The government and financial institutions support small for the invention with long research time, large uncertainties and high risk factors, especially the financial institutions did not reflect the function of financial system should have.⑶By comparing the policy environment and the achievement approach of the financial support for technical innovation in Germany , the United States, Japan and our country, the author found the limitations of our country, propose the policy arrangements of constructing the financial support environment for technology innovation expand the achievement approach of financial support for technological innovation.