Has Financial Agglomeration Improve The Efficiency Of Urban Technological Innovation?

For a long time,financial industry,as an important pillar industry,has played an important role in regional science and technology innovation and economic growth.At the same time,the improvement of regional science and technology level and economic growth accelerate the gathering of financial industry to create favorable conditions.Looking at the typical financial cities and urban agglomerations in the world,the relationship between the financial industry and the scientific and technological innovation is increasingly close.Financial resources are gathered in cities under the impetus of many factors,promoting interregional trade,stimulating the flow of talents and knowledge,and encouraging entrepreneurs to innovate and start-up,so as to promote technological innovation."We will deepen financial supply-side structural reform and strengthen the ability of financial services to serve the real economy," Xi said,adjusting the market structure,business philosophy,innovation capacity and service level of China's financial sector to suit economic development.Therefore,the research on how to affect the efficiency of urban science and technology innovation under the financial agglomeration is of practical significance.This paper uses the method of combining theoretical analysis with empirical analysis to study the effect of financial agglomeration structure on the efficiency of urban science and technology innovation,so as to improve the efficiency of science and technology innovation for urban agglomeration,constructing a reasonable financial market development system to provide the basis and policy reference.In this paper,the input-output index and DEA non-parameter technique are used to measure the innovation efficiency of 27 cities in Yangtze River Delta Economic Zone and Guangdong-hong Kong-macao Bay area respectively,including the efficiency of scientific and technological output and the efficiency of transformation of scientific and technological achievements.On the whole,the innovation efficiency of Yangtze River Delta Economic Zone is lower than that of Guangdong-hong Kong-macao Bay area.Compared to the scale of Yangtze River Delta Economic Zone's financial agglomeration,and in order to take advantage of its financial resources,it has been transformed into the output of scientific and technological innovation.Based on the results of the above efficiency scores,this paper then analyzes the financial agglomeration structure in the context of promoting the financial supply-side structural reform,and calculates the financial structure and the concentration of banks in the two urbanagglomerations respectively.The findings are as follows:(1)in two urban agglomerations with high degree of financial agglomeration,financial agglomeration promotes the efficiency of urban science and technology innovation.In the process of enterprise innovation,financial resource agglomeration not only provides rich financial support for enterprise innovation,but also cultivates the supporting conditions for the transformation of innovation achievements.(2)the data of two urban agglomerations show that the efficiency of sci-tech innovation is lower than the efficiency of sci-tech achievement transformation.This shows that the output of scientific and technological achievements in the process of industrialization also has room for improvement.According to the decomposition result of DEA,the reason of restricting the efficiency of science and technology innovation in China is that the improvement of pure technology efficiency is beneficial to the improvement of the efficiency of science and technology innovation in the inner cities of the two urban agglomerations.(3)this paper validates the moderating effect of financial structure on the impact of financial agglomeration on the efficiency of urban s & T innovation.To promote the efficiency of urban science and technology innovation,we should not only pay attention to the expansion of the scale of financial resources,but also pay attention to the optimization of the allocation structure of financial resources.So that the rich financial resources through a good financial system and regional economic structure to adapt.