Research On The Efficiency Of China's Financial R&D Expenditure

After the financial crisis in 2008,science and technology has become an important support force to improve the productive forces and national comprehensive national strength,which is at the core of the development of all countries.With the development of science and technology in our country,the government has been as an important force of science and technology input,supporting activities of science and technology through allocating directly by the fiscal funds and indirecting investment by a variety of forms such as policy tilt,to increase financial support for science and technology.With the rapid growth of investment,the significant improvement of the role of science and technology and the improvement of the performance management requirements of the new "budget algorithm",it is necessary to evaluate the effectiveness of the investment in financial science and technology.As the main indexes of measuring fiscal R&D spending,evaluating its efficiency helps to clear about their financial service efficiency of funds now,find the problem in time,optimize the use of funds,in result more effectively promoting our country science and technology innovation ability.The purpose of this study is to measure the fiscal expenditure efficiency of R&D in China,according to the result of measurement and analysis,then put forward suggestions for improvement.Compared with the existing research,the index system of building,data selection and use of the model has certain innovation.The paper consists of five parts.The first chapter is the introduction,firstly,this paper introduces the research finance R&D expenditure efficiency background,significance,and then based on the literature review of existing domestic and foreign research results,the result finds that there are some deficiencies in the efficiency of R&D expenditure in the study of finance R&D,which needs to be studied further.The second chapter begins with a review of the financial implications of the finance R&D expenditure and the efficiency of R&D expenditure.The concept of efficiency of expenditure is defined.The reasons of fiscal support to the theory of R&D activities are analyzed in detail,including technology innovation theory,public goods theory and public choice theory,endogenous growth theory and the fiscal expenditure growth theory.The third chapter is on the fiscal expenditure of R&Defficiency index system for building,firstly,this paper determines the input and output indicators of the general selection principle,for target,comprehensiveness,comparability,relevance,timeliness,and widely collected data,the preliminary determines the input and output target,in order to improve the results can be referenced,on output indicators through correlation analysis and differentiation analysis further screening,according to the results,the index system was finally determined.In chapter 4,the reasons for the selection of the model are expounded,and the evolution process of the model is given in detail.According to the research target,based on the first panel data to measure the provinces in our country's R&D spending efficiency,found 22 provinces are not in a state of DEA effective,for further analysis of the reason,in the provinces of 2015 respectively from the Angle of input and output data to measure it again,and according to the results,the paper analyzes the reasons of low efficiency.The fifth chapter,according to the empirical analysis part of conclusion,mainly from giving full play to the role of government in R&D expenditure,and improve the mechanism of fiscal expenditure on R&D Angle put forward policy suggestions,in order to help improve the efficiency of fiscal expenditure of R&D in China.