Technical Innovation Effect Of Financial Development、Financial Liberation And Intellectual Protection Rights Protection

Since the loss of those comparative advantages, economic growth mode highly relying on capital investment has gradually show signs of fatigue, innovation-driven economic growth has become a social consensus. As an important institutional arrangement for knowledge production incentive, more and more people aware of the IPR protection is bringing far-reaching impact on technological innovation and economic growth. There exist heated debates when the study objects turn to the developing countries and regions. For a developing country like China, the study of the above issues will not only help to understand the actual level of the intellectual property protection at the present stage, but can also provide a useful reference for the formulation of relevant policies.Roman was not built in a day. Technological innovation not only needs reasonable Institutional arrangements, but also cannot be achieved without the support from a developed financial system. There exists a lot of uncertainty among the early development research and post-investment, moreover, a sound and effect financial system can found for quality projects through opportunity recognition mechanism. However, the reality is that China’s financial system has reached a certain scale already, the resource allocation is generally prone to the state sector. Therefore, what role does the financial development and financial liberation play of in the regional technological innovation is worthy of further study.Base on the discussed above and the lack of the existing research, we build up a “knowledge-drive” two-sector model to discuss the IPR’ theoretical mechanism for technical development, pick up the China twenty-four provinces’ data from 2000 to 2014, set up a dynamic panel data model through Jaffe knowledge production function, and then discuss the technical innovation effect of financial marketization and IPR protection theoretically and empirically. The empirical results show that during the financial marketization, for the regional technology innovation, there exists synergistic effect between financial development and IPR protection, but it plays just the opposite between the financial liberalization. Meanwhile, we also find that innovation is the main power of our regional technology improvement, the technical innovation effect of the domestic technology introduction and the foreign technology introduction is significantly different. Furthermore, there exists an inverted "U" relationship between IPR protection and regional technological progress. All regions should adjust the protective intensity of IPR according to their own resource endowment, and develop scientific strategies on technology introduction.