Research On The Influence Of Financial Science And Technology Expenditure On Regional Innovation Ability

With the promotion of China's innovation-driven development strategy,the central and local governments have continuously increased the financial expenditure on science and technology and increased the public input of innovation funds.The difference in the intensity and efficiency of the financial expenditure on science and technology of local governments will affect the change of regional innovation capacity and reflect the innovative development level of high-tech industries.The development of high-tech industry is the main purpose of financial science and technology investment and the main embodiment of regional innovation ability.Taking the development of high-tech industry as a measure,this paper studies the influence of regional financial science and technology expenditure on regional innovation capacity under the background of China's comprehensive implementation of innovation-driven development strategy,in order to provide references for the government to better implement the innovation-driven development strategy and formulate and implement related financial science and technology policies and measures.The main contents of this paper include the following four aspects: first,theoretically expound the mechanism of financial science and technology expenditure acting on the innovation and development of regional high-tech industry,and provide theoretical basis for the government to formulate regional high-tech industry financial support policies;Second,it analyzes the characteristics of China's financial expenditure on science and technology and regional innovation capacity from the perspectives of total amount and structure,and investigates the correlation between the two,as well as the differences in innovation in high-tech industries in different regions in China from the perspectives of innovation input and innovation output.Third,the panel data of China's inter-provincial high-tech industry from 2008 to 2016 were used to introduce human capital input,industrial agglomeration and other control variables to empirically test the effect of national and regional financial science and technology expenditure on innovation and development of high-tech industry.Fourth,according to the research results,put forward the corresponding policy recommendations.The results show that: first,there is a significant positive correlation between the financial expenditure on science and technology and the regional innovation ability.Second,the financial science and technology expenditure in different regions has different effects on the improvement of regional innovation capacity.The financial science and technology expenditure in the economically developed eastern region has the largest promoting effect on the innovation of high-tech industries,followed by the central region,and the western region has the smallest,and the western region has the dilemma of financial science and technology investment.