The Technology Innovation’s Influence On Industrial Productivity Under The Background Of Science And Technology Finance

In recent years, the industrial development in China is facing a dilemma, excess capacity, weak demand, falling profits, in the critical period of transformation and upgrading of economic structure, industrial enterprises are in urgent need of transformation, from predominantly elements in bold type development to the new industrialization production mode of depending on the total factor productivity and the progress of scientific and technological. Industrial is closely related to science and technology, technological innovation is the persistent driving force of the development of industrial, our country is the chasing and imitators of technical innovation, relying on foreign technology spillover is far from enough, our country must accelerate the pace of independent innovation in the development. Finance is the core of the development of the economy, as the concept of science and technology finance occurs, technology and financial combination has become an inevitable trend, finance promotes science and technology, science and technology drives the finance, promoting sustainable development of industry in our country in both the coordinated development.On the basis of combing the literature at home and abroad, this paper put forward five theoretical hypotheses. On these hypotheses, this paper firstly calculates the industrial total factor productivity index, and break it down to the progress of technical efficiency and technical progress, at the same time, based on super efficiency model convert the TFP index to TFP level value. Then analyze the industry and the area of R&D spending accounted (R&D input intensity) trend, using principal component analysis (PCA) to measure the development indicators of China’s regional environmental, estimates China’s industrial and regional R&D input and output efficiency using the SBM super efficiency model, and using the FGL crowded elements model to measure the efficiency of industrial resource allocation, then makes EGLS panel model regression using the the variables and the level of industrial TFP, the results show that our country industry R&D efficiency significantly promote the ascension of TFP, but regional R&D efficiency of industry effect is not obvious, and uses the empirical quantile regression to analyse the direction and the size of the explanatory variables influence on TFP under different TFP level value, the results show that the regional development of our country environment, industrial R&D efficiency all has significantly positive influence under any quantile level. Then from theory describe China’s financial development present situation and shortcomings of science and technology, and use the CTT elements crowding model to measure micro financial resources allocation efficiency of science and technology condition in our country and the improvement way, the financial resource allocation efficiency of science and technology in the eastern part from the industry and regional are the highest; Then make EGLS panel data regression between government technology support funds, enterprise own capital, loans to financial institutions, science and technology capital market, science and technology risk investment and industrial and regional R&D input and output efficiency, the results show that the loans of financial institutions in China, science and technology risk investment have no significant positive influence on industry and areas R&D,even the function is negative, but the government funds, enterprise own capital, the science and technology capital market has a lot to raise scientific and technological innovation. From the whole financial system, science and technology financial system using entropy value method and technology innovation ability have low coupling coordination, regional value is slightly bigger than the industry body, and in recent years, the coupling value is at the rising stage. At the end, the paper using the cross terms regression model to verify the influence of different direction and path that the science finance of industry and region have on industrial TFP through scientific and technological innovation.