| In the context of the new normal economy,The coordinated development of finance and technology has become a new engine to promote rapid economic development.Technology is the primary productive force,finance is the blood of the economy,and it is also the core competitiveness of the country.The coordinated development of the two is actually the fusion of primary productive forces and core competitiveness,and ultimately achieves the purpose of promoting economic growth.Science and technology and finance are intertwined and affect each other,forming a virtuous circle and vigorously promoting economic and social development.The most primitive driving force for financial innovation is often technological progress.The development of financial markets and the innovation of financial instruments essentially reflect the reduction in transaction and financing costs brought about by technological progress.Similarly,technological progress is also inseparable from financial support.The financing needs for the development of technology-based enterprises can only be solved by the continuous innovation of financial instruments and the continuous development of financial markets.Looking back on the development process of the world economy,the close combination of financial innovation and technological innovation has proven time and again that it has played a significant role in promoting the progress of social productivity and the transformation of production methods.In today's economy and society,sci-tech finance is the most intimate combination of sci-tech innovation and financial innovation,and it is the deep integration of finance and technology.The report of the 19th National Congress of the Communist Party of China highlighted the need to"accelerate the construction of an industrial system for the coordinated development of the real economy,technological innovation,modern finance,and human resources." The party and the state have realized the importance of the development of science and technology finance and insisted on the development of science and technology finance to better serve the real economy in order to effectively promote stable and rapid economic growth.Based on this,this paper firstly understands the development status of science and technology finance in China,and constructs an evaluation index system for the development level of science and technology finance from the perspective of science and technology finance input and technology finance output,and then based on the panel data of 31 provinces in China from 2009 to 2017,The entropy weighting method is used to measure and analyze the index of technological and financial development level.Finally,the article deeply analyzes the relationship between technological and financial growth and economic growth,introduces spatial factors to build a spatial econometric model,and empirically studies how scientific and technological finance promotes Regional economic growth.The research results show that the inter-provincial level of economic growth has a significant positive dependence on the spatial dimension;scientific and technological finance has a positive effect on the promotion of regional economic development as a whole;the technological and financial development levels of various provinces and cities have a positive effect on the regional economy through spatial geography mechanisms.The output of growth has spillover effects,and this spillover effect is negative.The improvement of the level of technological and financial development in the region has promoted the economic growth of the region,but the "siphon effect" on the economic growth of the surrounding regions is greater than the "trickle effect".Therefore,if we want to give full play to the promotion effect of sci-tech finance on economic growth and promote the reasonable and stable growth of the regional economy,we must not only improve the level of sci-tech finance development,but also pay attention to the coordinated development of sci-tech finance between regions. |
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