Research On The Efficiency Of Science And Technology Finance In The Western Region

The core of innovation-driven strategy is scientific and technological innovation.Scientific and technological innovation is the backbone of economic development.Finance is the "blood" of supporting technological innovation.At the national level,a series of policy proposals to promote the deep integration of technology and finance have been promulgated,and local governments have made plans for regional science and technology finance,and actively set up a financial system for science and technology.At this stage,how to achieve efficient operation of China’s science and technology finance,that is,the investment of financial resources and the optimal allocation of the output of scientific and technological achievements,has become an important issue in the implementation of the national policy.In the new round of Western Development and the “Belt and Road” initiative,the western region has closely followed the trend of the integration of science and technology and finance,and there have been two batches of technology finance pilot cities.Generally speaking,the western region is guided by the expansion of science and technology financial capital,but it does not pay enough attention to the allocation efficiency of science and technology financial funds.And High-tech transformation is difficult to get financial support,and small technology-based firms financing contradiction between supply and demand are still prominent.Therefore,it is necessary to assess the financial efficiency of science and technology in the western region,and find financial problems existing in the development of science and technology in the western region,breaking science and technology enterprises’ financial capital constraint bottleneck,improving financial efficiency of science and technology,enhancing regional innovation capability.First,this article defines the concept of science and technology finance and the efficiency of science and technology finance;secondly,establish scientific index system of financial efficiency and model are selected;Next,we use SE-DEA model and Malmquist index to measure and rank the efficiency of science and technology in 31 provinces and autonomous regions of China.,and We also compare the efficiency and ranking of 12 provinces and municipalities in the West and China in dynamic and static way;Finally,from the three levels of public technology finance,market technology finance and overall technology finance,weuse the linear combination evaluation model of SE-DEA and Malmquist index to evaluate the comprehensive efficiency of science and technology finance in the West.On the basis of the above empirical results,the following conclusions are drawn:(1)Technology finance in the western region is in the initial stage of development,and the overall efficiency is relatively low.(2)The efficiency and growth rate of science and technology finance in the western region is far lower than that in the eastern region.(3)In the western region,the efficiency of science and technology is different from each other.According to the results of empirical analysis,the paper analyzes the causes,puts forward specific recommendations to promote science and technology in western China financial efficiency:(1)The efficiency of Public Technology Finance in the western region is smaller than that in the East,but the efficiency is low and the growth is slow;(2)Improve the financial policy of science and technology and make good use of financial funds;(3)Adjust the credit structure,promote the pilot investment loan linkage;(4)The promotion of "surplus power" mode,coordination of government and market;(5)Grasping the construction of large data to lead the development of science and Technology Finance;(6)Increasing the cultivation of talents in the technology finance market.