The Influence Of Coupling And Coordination Degree Of Financial Development And Technological Innovation On Economic Growth

At present,China's economic growth model is changing from high-speed growth to high-quality development.Technological innovation is the new engine of economic growth and financial development is the core of modern economic growth.The importance of the two for economic growth cannot be ignored.Financial development and technological innovation A high degree of coordination will facilitate the implementation of China's innovation-driven development strategy,thereby effectively promoting economic growth.China has provided a lot of policy support in promoting science and technology innovation in finance.It has opened a period in which finance has helped the rapid development of technological innovation.New financial policies have better guided financial resources to enterprises,and the results of technological innovation have also significantly improved the efficiency of financial services.This paper analyzes the degree of coupling and coordination between financial development and technological innovation in various provinces and cities in China,and uses an empirical model to analyze the effect of coupling and coordination on economic growth,and analyzes the effect of the coordinated development of the two on economic growth from a new perspective.The thesis first analyzes the driving force for the coordinated development of financial development and technological innovation at the theoretical level,and the promotion of economic growth by the coordination of the two.Secondly,from the perspective of the status quo,it is found that China's financial development level and technological innovation capacity have improved significantly from 2008 to 2017.The coordinated development status of the two has been continuously improved,but there are differences in development between different provinces,showing certain regional characteristics.In order to quantitatively analyze the degree of coordination between financial development and technological innovation,build a comprehensive evaluation index system of the financial development subsystem and technological innovation subsystem,and calculate the comprehensive financial development indicators of each province and city from 2008 to 2017 based on the coupled coordination degree model Indicators and the degree of coupling and coordination between the two.The results show that the degree of coupling and coordination in 2017 has improved compared to 2008,but the degree of coupling and coordination of the two is generally low,and there is a characteristic of decreasing in the east,middle and west.Finally,a static panel regression is made on the impact of financial development indicators,technological innovation indicators,and the coordination index between them on economic growth.The results show that the comprehensive financial development indicators,scientific and technological innovation indicators,and the coordination index of the two have significant effects on economic growth.The positive effect of the index,and the effect of the coordination index on economic growth is stronger than the separate indicators of the two.Based on the current situation and empirical analysis results,it can be seen that the coordination of China's financial development and technological innovation has the strongest effect on economic growth.In order to better promote economic growth,we should focus on improving the coordination of financial development and technological innovation.The financial development and technological innovation have different levels of resources,and there are certain regional characteristics.The flow of resources between different regions should be correctly guided.In this process,the correct guidance of the government will strengthen the efficiency of resource flows and enhance the degree of coordination between the two.The comprehensive development of finance and the improvement of the overall level of technological innovation also have a non-negligible impact on the synergy of the two and economic growth.Therefore,the recommendations are mainly from enhancing the coordination of the two,improving the overall level of technological innovation and promoting the comprehensive development of the financial industry,launched in three areas.