Research On The Space-time Effects Of Science And Technology Finance On The Development Of High-tech Industry

Since the Nineteenth National Congress,the construction of innovative countries has become the main theme of China's economic development.Under this background,it is significant to develop high-tech industries.High-tech industries are characterized by high innovation,high input,and high risk.The contradiction between capital supply and demand has become a key factor that restricts the development of the industry.Science and technology finance emerged.Science and technology finance is an open system composed of various financial entities and institutional environments,providing the most powerful support for the development of high-tech industries.With the growth of China's science and technology finance,high-tech industries have developed rapidly,but the imbalance in regional development has become more prominent.This is closely related to the spatial distribution of China's scientific and technological financial resources.Based on the reality of our country,this paper refer to the existing research,theoretically discusses and empirically analyzes the relationship between science and technology finance and high-tech industries.Firstly,starting from the definition of related concepts,then theoretical analysis of the impact mechanism of science and technology finance on the development of high-tech industries,because of high-tech industries' high concentration and high externality characteristics,we discusses the space-time effects of high-tech industries on the development of high-tech industries.It mainly shows:On the one hand,the agglomeration effect exacerbates regional polarization,leading to strong time-dependent industrial development;on the other hand,spillover effects promote regional development coordination,and the development of science and technology finance and high-tech industrial agglomeration bring positive Space overflow.Secondly,based on the entropy method,a comprehensive evaluation index system for regional science and technology finance and high-tech industrial development was constructed.When analyzing the temporal and spatial characteristics of the index,it was found that the spatial correlation degree was high,and most areas showed "high-high" or"low-low" spatial agglomeration pattern,and with the time lapse,the spatial correlation between technology finance and the development of high-tech industries shows a trend of simultaneous weakening,and the spillover effect narrows the regional industrial development gap.Then,using the non-spatial panel model and the space panel model to empirically analyze the relationship between technology finance and high-tech industries,the empirical results show that:science and technology finance has a significant role in promoting the development of high-tech industries,but after adding time and space factors,the impact coefficient Significantly smaller;the level of high-tech industry in the region has a significant positive correlation with the level of industrial development in the previous period,and the correlation coefficient is relatively large,indicating that the development of high-tech industries has strong time-path dependence;high-tech industries and technology finance in the region Development has a positive impact on the industrial development of the surrounding areas,indicating that the spillover effect is significant;the regression coefficient of the regional economic development level and per capita income level in the control variables is also crucial,promoting the development of regional high-tech industries.Finally,in order to promote the development of regional high-tech industries and promote the regional coordination of the development of high-tech industries,we have proposed the corresponding policy suggestions.