| Since eighteen National People’s Congress of the party, China has accelerated the pace of economic restructuring. The pattern of economic growth has changed from the extensive type relying on resources and energy to intensive type relying on innovation and entrepreneurship. Technology industry has become the focus of China’s economic restructuring, and gradually developed into the main driving force of China’s economic structure adjustment and upgrading. However, the high risk and uncertainty of technology industry hinders commercial capital inflows to the technology industry. This kind of industry’s development has an urgent need to get support from the government. Therefore, the government continues to increase the financial support in science and technology industry and strives to provide a favorable environment and the fundamental guarantee for the development of the science and technology industry. But although the government attaches great importance to the development of science and technology industry and increases financial input in science and technology, there are still some problems about the financial support of the science and technology industry development at the present stage. Firstly, the prominent problem is the lack of unified and effective national efficiency evaluation on fiscal expenditure on science and technology, which may make the limited fiscal expenditure on science and technology produce little economic benefits and further lead to the quality of science and technology industry development is not guaranteed. Secondly, even some scholars have researched about the efficiency evaluation of fiscal expenditure on science and technology from different aspects in recent years. But because the influencing factors of fiscal technology expenditure efficiency are not involved in their research. So it’s not to be able to put forward reasonable suggestions on how to improve the efficiency the fiscal expenditure on science and technology.Based on this background, this paper primarily teased out the domestic and foreign literature about fiscal expenditure on science and technology and then established the theoretical model of impact of fiscal expenditure on technology output efficiency, which is the core theory in this paper. Secondly, the evolution process of China’s scientific research system reform was reviewed. The status on the scale and structure of fiscal expenditure on science and technology in China was analyzed. Thirdly, I select the provincial panel data of 28 provinces, autonomous regions and municipalities in China during 2002~2014.Then I use the DEA method to evaluate the efficiency of fiscal expenditure on science and technology in China and analyze the problems of efficiency of fiscal expenditure on science and technology. After that I put forward the theoretical hypothesis, using Tobit model to study on the factors of the efficiency of fiscal expenditure on science and technology of China. Finally, based on the conclusions of this study and the actual situation of our country, this paper puts forward some policy suggestions on how to improve the efficiency of China’s fiscal technology spending.The conclusions of this study are:(1) By the increase of government fiscal expenditure on science and technology, the efficiency of Chinese fiscal expenditure on science and technology show an overall upward trend during 13 years. But by the impact of the global financial crisis, the development of fiscal expenditure on science and technology efficiency stagnated after 2008. Because of the excess domestic production capacity and the influence of economy structural transformation, China’s fiscal expenditure on science and technology efficiency decreased after 2013.(2) The comprehensive efficiency and pure technical efficiency of China’s fiscal science and technology expenditure presents obvious regional differences, and the efficiency of the eastern region is much higher than that of the central and western regions.(3) China’s fiscal expenditure on science and technology efficiency in eastern region is low. The reason is the existing size is more than optimal size. And those in the Midwest scale inefficiency in China; the main reason of the inefficiency in Midwest scale is the existing scale failures to achieve the optimal size.(4) During 13 years from 2002 to 2014, the efficiency of the province’s fiscal technology spending is increasing. But some province’s efficiency of fiscal technology spending is decreasing. In these decreased provinces, fiscal expenditure on science and technology efficiency decline in eastern region is mainly affected by the scale efficiency decline, and fiscal expenditure on science and technology efficiency decline in Midwest is the results of the decline of the pure technical efficiency and scale efficiency.(5) Due to the impact of the global financial crisis, TFP value had a short recession in 2007-2008 and 2008-2009 respectively. TFP decline in the first period is mainly due to the serious technical regress, while TFP decline in second period is mainly responsible for the deteriorating efficiency.(6) The degree of mercerization in different region has a significant impact on the efficiency of fiscal technology spending, and the impact is positive.(7) Compared to the central and western regions, the regional factors have a more significant impact on the efficiency of the fiscal technology spending in eastern region, and the impact is positive.(8) The degree of fiscal decentralization has a significant impact on the efficiency of fiscal technology spending, and the impact is positive.(9)The impact of local government size on the efficiency of fiscal technology spending is negative, but the impact is not significant.(10)The impact of local educational level on the efficiency of technology spending is positive, but the impact is not significant.Based on the conclusions above, this paper puts forward these policy recommendations:(1) Optimize the structure of China’s fiscal technology expenditure. First, Government can increase the fiscal capital in the field of basic research and provide preferential policies to basic research enterprises and guide university scientific research to focus on basic research. Second, the government can determine the focus of fiscal expenditure on science and technology in the region according to the advantages and characteristics of regional development to play resource advantages in different areas and strengthen the link between the eastern, central and Western China, Which let the resources between regions flow and narrow the differences between regions.(2) By promoting the development of the non-public sectors of the economy, the third industry and export-oriented economy, it can raise the level of regional market and provide a better environment and conditions for the allocation of resources and ultimately improve the allocate efficiency of fiscal resources between the various departments.(3) Enhance the autonomy level of regional government fiscal. Local governments determine the configuration structure and size of fiscal resources in order to improve the efficiency of fiscal expenditure on technology. At the same time, we need improve the regulatory system of local government fiscal behavior to eliminate the fiscal decentralization and corruption breeding.(4) Follow the laws of scientific research; improve the efficiency of fiscal and expenditure control mechanism from two aspects of financial capital management and output target management. |
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