Public Financial Expenditure Of Science And Technology,total Factor Productivity And Regional Economic Growth Differences In Guangdong Province

The report of the 19 th National Congress of the Communist Party of China pointed out that "the main contradiction of our country's socialism has been transformed into the contradiction between the people's growing needs for a better life and imbalanced and inadequate development." The problem of imbalanced regional development has long plagued Guangdong's development.Problems that Guangdong Province must solve in order to take the lead in realizing socialist modernization.On March 7,2018,General Secretary Xi pointed out during the review of the Guangdong delegation of the 13 th National People's Congress that the imbalance in regional development in Guangdong was a prominent problem and shortcoming.It also specifically pointed out that Guangdong should improve the balance and coordination of development.So what caused the regional economic growth differences in Guangdong Province,and in what ways to reduce regional economic disparities?According to the report of the 19 th CPC National Congress,technological innovation has changed the status of different factors of economic growth,and the main factors that promote economic growth have changed from capital,labor,and natural resources to technological innovation capabilities.Therefore,total factor productivity has become the most important factor in explaining economic growth and regional differences.In this paper,technological innovation is used as a link between fiscal scientific and technological expenditure,total factor productivity,and regional economic growth differences.Firstly,the main factors affecting the regional economic disparities in Guangdong Province were analyzed by the variance decomposition method.Second,this paper uses the DEAMalmauist method to decompose total factor productivity into technical efficiency and technological progress,and analyze their impact on regional differences in total factor productivity.Next,we analyze the current status of fiscal technology expenditures and technological innovation capabilities,and analyze whether they have regional disparities.Finally,we use the generalized moment estimation method(GMM)to conduct an empirical test on the impact mechanism of fiscal technology expenditure and total factor productivity to verify whether fiscal technology expenditure can promote the growth of total factor productivity.By analyzing the variance decomposition of Guangdong's per capita GDP,we conclude that TFP growth is the most important factor in explaining regional economic differences;by analyzing TFP growth,we conclude that TFP has regional differences,and the differences are mainly It is caused by production efficiency,but the most important factor affecting total factor productivity is technological progress.Through a regional analysis of fiscal scientific and technological expenditures and technological innovation capabilities,we conclude that the technological innovation capability of the Pearl River Delta region is stronger than that of eastern and western regions of Guangdong.In addition,the investment in financial science and technology expenditure is significantly higher than that in the eastern and northern regions of Guangdong.Through empirical analysis,we can conclude that Guangdong's financial science and technology support has significantly promoted the growth of total factor productivity.