Research On The Influence Of The Development Of Science And Technology Finance On TFP In China

With the continuous development of China's modernization process,the role of science and technology is more obvious,technology and finance are integrated at different levels.Measuring the impact of science and technology finance on the economy is particularly important for the further development of China's science and technology finance.Under the new normal,total factor productivity is an inexhaustible motive force for China's economic development.To a certain extent,total factor productivity can be used as a measure of the quality in economic growth.Therefore,this paper is deeply influencing the impact of China's science and technology finance development level on total factor productivity.Most scholars do not have a more in-depth study on the impact of the level of development of science and technology finance on total factor productivity.This paper attempts to study the impact of China's science and technology finance development on total factor productivity from two aspects: mechanism analysis and empirical analysis,and use the data of various provinces in China to make relevant quantitative analysis on the impact of science and technology finance development on total factor productivity.Based on the measurement of the level of science and technology finance and total factor productivity,this paper conducts empirical research on data from 30 provinces from 2000 to 2016,and finds that China's level of science and technology finance has a significant "positive" effect on total factor productivity.The coefficient of influence of the level of scientific and technological finance on total factor productivity is 0.0143,that is,the increase of one unit of science and technology finance will increase the total factor productivity by 1.4%.After returning to various regions,it is found that the development of science and technology finance in eastern China has obvious effects on total factor productivity.Promoting role,the promotion role of the central and western regions is not significant.To this end,this paper proposes corresponding policy recommendations based on the actual situation of China's science and technology finance development.On the one hand,it can promote the further development of science and technology finance by vigorously cultivating scientific and technological talents,setting up a policy financial institution or financialplatform,and giving enterprises technological innovation incentives and other methods.On the other hand,it can take active measures to promote technological progress and financial development in the central and western regions,and achieve an effective connection between the development of science and technology finance and total factor productivity in the central and western regions.