| As China’s economy enters the new normal of high-quality development,scientific and technological innovation ability plays an increasingly important role in the national core competitiveness,and scientific and technological innovation has gradually become the core driving force to promote high-quality economic development.The state has issued a series of policies and measures to promote scientific and technological self-reliance as the core strategy of national development.Financial agglomeration,as an important form of current financial development,has spawned numerous regional financial centers,which play an important supporting role in promoting scientific and technological innovation.It is very important to build a cooperative development mechanism between financial agglomeration and scientific and technological innovation to build a national innovation platform.Space effect is the financial center one of the important mechanisms of driving the development of scientific and technological innovation in the neighborhood,on the one hand,financial agglomeration may through spatial spillover effect to improve the neighborhood R&D environment so as to promote scientific and technological innovation,for the financial sector on the other hand excessive concentration may also be through the siphon effect compression space and other industries have inhibitory effect on scientific and technological innovation in the neighborhood.Therefore,exploring the spatial effect of financial agglomeration on regional s&T innovation efficiency is helpful to clarify the influence mechanism between the two,and has relatively important practical significance for promoting the construction of regional financial center and the coordinated development of s&T activities in China.In this paper,the annual data of 31 provinces and autonomous regions in China from 2006 to2018 are used as research samples.Through the establishment of spatial Dubin model,the impact of financial agglomeration on the efficiency of scientific and technological innovation in China is deeply explored.Firstly,the relevant theories and literature on financial agglomeration,technological innovation efficiency and spatial effect of financial agglomeration are reviewed,and the influence mechanism of financial agglomeration on technological innovation efficiency is explored.Secondly,the financial location entropy method is used to measure the level of provincial financial agglomeration,and the static and dynamic comparison of provincial s&T innovation efficiency is made by data envelopment analysis.Furthermore,an empirical study on the spatial effect of financial agglomeration on the efficiency of scientific and technological innovation under three spatial matrix relationships is carried out by using spatial Dubin model.The results show that:(1)China’s inter-provincial financial agglomeration shows significant positive spatial autocorrelation.Among financial subsectors,banking agglomeration has spatial autocorrelation,but the spatial correlation of securities industry and insurance industry agglomeration is not strong,that is,the spatial dependence of the development of securities industry and insurance industry on adjacent regions is weak.(2)Financial agglomeration can promote the efficiency of scientific and technological innovation in this region and its surrounding areas.Specific divisions,the banking industry bring excessive agglomeration regional financial risk accumulation and capital flow to the low efficiency of enterprise innovation and suppressing the improvement of regional technological innovation efficiency,the securities industry development through a siphon effect to attract talent,capital flow and suppressing weeks to quality provinces don’t the improvement of regional technological innovation efficiency,and the space effect of the insurance industry is not obvious,This may be caused by the great difference in the development of insurance industry in different provinces and the lack of direct correlation between insurance industry and enterprise innovation activities.(3)Education development,economic development and life pressure can significantly improve the efficiency of scientific and technological innovation in the region,while opening to the outside world has little impact on the efficiency of scientific and technological innovation.Finally,this paper puts forward corresponding policy suggestions based on the development status and research results of financial agglomeration and scientific and technological innovation in China,providing some possible references for promoting the coordinated development of financial agglomeration and scientific and technological innovation in China. |
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