Research On The Spatial Effects Of Provincial-level Financial Investment In Science And Technology

With the advent of the knowledge-based economy and the globalization of science and technology,national innovation capacity will play a key role in achieving the goals of social and economic development.Innovation has become a key factor in measuring a country's core competitiveness.Research shows that the quantity and quality of scientific and technological resources input constitute an important foundation for national innovation capabilities,and ultimately determine the country's level of innovation and innovation performance.In the entire society's investment in technology resources,financial technology investment is an important component.Although the local financial technology investment has obvious regional characteristics,the transformation of scientific and technological achievements often exceeds the spread of geographical areas to neighboring regions.The government adopts technology policies,the implementation of planning and technological inputs to achieve the allocation of national technology resources.therefore,to study the spatial effects of provincial-level local financial input and output of technology is of great significance to improve the efficiency of local government's use of technological resources and to achieve regional economic innovation-driven and transformational development.First of all,this paper analyzes the current situation of local government financial investment in technology from 1999 to 2015 based on the total amount and structure of local financial technology inputs.The data shows that local governments in China are increasing their financial investment in technology year by year,while the input structure in central and local governments are also gradually changing.The government's responsibility for financial investment in technological innovation has increasingly depended on the strength of local governments.In addition,there is a big difference in the development status among various regions,and the gap is gradually expanding.Secondly,this paper uses DEA-Mamlquist index method to analyze the financial input and output of 31 provinces in China from 2007 to 2015.The results show that: apart from the declining trend of financial technology investment efficiency in the central region,the financial technology investment efficiency in east or west regions and northeast region all show an upward trend.Then the article analyzes the spatial correlation of the 31 provincial-level local government financial technology input efficiencies and finds that it has spatial agglomeration characteristics and significant spatial effects.The paper constructs a spatial econometric model and analyzes the impact of various factors on the efficiency of provincial fiscal technology investment and its spatial spillover effect.The results show that the intensity of technology input,fiscal decentralization,and economic openness have a positive effect on the efficiency of financial technology investment;educational investment has a negative impact on the efficiency of financial technology investment;while the level of modernization and industrial structure have no significant impact on the efficiency of financial technology investment.In addition,from the spatial Dubin model(SDM),financial technology input intensity and fiscal decentralization have a positive spillover effect on local fiscal technology investment efficiency;economic development level and economic openness have a negative spillover effect;the spatial correlation between educational input,R&D expenditure,and industrial structure is not significant.Finally,based on the conclusions,the article combined with the actual situation of each province to make an in-depth analysis of the reasons for the impact of provincial financial technology investment efficiency and spatial spillover effects,then accordingly puts forward relevant policy recommendations.