Analysis On The Influence Of Government Financial Support On The Innovation Efficiency Of High-tech Industry

With the accelerated development of global industrialization,China is moving towards a new stage of promoting the development of high-tech.The development of high-tech industries provides a strong driving force for technological innovation,and the government ’s strong investment also makes them play an important role in the economic,social and environmental aspects.Therefore,it is of great significance to explore whether the government ’s financial support has effectively improved the innovation efficiency of high-tech industries,and to establish an effective financial support mechanism and play a policy leverage role.This paper adopts the research process of “ literature review,theoretical discussion,empirical test and policy suggestion ”,and deeply discusses how government financial investment can improve the innovation ability of high-tech industry.Firstly,it analyzes the theoretical mechanism of government financial support for high-tech industry innovation efficiency.On this basis,with reference to the existing literature,this paper combs and analyzes the innovation activities of China ’s high-tech industry from the two stages of technology research and development stage and achievement transformation stage,and summarizes the input,output and environment variables of the two stages from the analysis of the development status and trend of its innovation activities.Based on the data analysis of innovation input,output and environment of high-tech industry in 30 provincial regions(except Tibet,Hong Kong,Macao and Taiwan)in China from 2009 to 2020,this paper uses three-stage DEA model and Malmquist index to explore the change trend of innovation efficiency of high-tech industry in each province from static and dynamic perspectives,and visualizes the spatial distribution pattern of innovation efficiency of high-tech industry in 2010 and2020.Through the Tobit model of random effects,this paper further explores the role of government financial support in promoting the innovation efficiency of high-tech industries,and evaluates its effect quantitatively and qualitatively.The results show that :(1)From the static analysis,the innovation efficiency of China ’s high-tech industry in the stage of technology research and development is significantly improved,while in the stage of achievement transformation,its innovation efficiency is relatively low.From the perspective of dynamic analysis,the average level of total factor productivity of China ’s high-tech industry is greater than 1,and the industrial management level and operation scale are improved and expanded simultaneously.From the perspective of spatial distribution,the innovation efficiency of high-tech industry in the two stages shows a gradual downward trend in the east-central-northeast-west.(2)in the Tobit model,the current government financial support plays an important inhibitory role in improving the innovation efficiency of the high-tech industry technology research and development stage,but it promotes the improvement of innovation efficiency in the achievement transformation stage,and the robustness test further confirms this conclusion.