| Regional technological innovation is the key to promote the high-quality development of China’s regional economy at the current stage.Regional technological innovation is a complex and dynamic process.Each link of the process will generate a large number of financing needs.At the same time,regional technological innovation at different stages has different risk characteristics,which need to be dispersed through a sound financial system.However,restricted by the scale of enterprises and the high risk of technological innovation activities,technological innovation enterprises generally face serious financing constraints in the traditional financial field.The digital finance relying on information and communication technology can effectively provide financial support for regional technological innovation activities by alleviating information asymmetry and other ways.At the same time,digital finance can break the time and space constraints,speed up the flow of technological innovation elements between regions,and then have an impact on technological innovation in spatially related regions.Under the strategic background of promoting regional coordinated development and implementing innovation-driven development,it is of great significance to explore the spatial spillover effect of digital finance on regional technological innovation.Based on the provincial level,this paper focuses on the spatial spillover effect of digital finance on regional technological innovation.First of all,the existing research is reviewed and summarized from three aspects: the measurement of regional technological innovation,the empirical conclusion of the spatial spillover effect of digital finance on regional technological innovation,and the empirical method of the spatial spillover effect of digital finance on regional technological innovation.Secondly,the spatial spillover effect of digital finance on regional technological innovation is analyzed at a theoretical level.Thirdly,based on the analysis of the development trend of digital finance and regional technological innovation,the global Moran index and Moran scatter chart are used to test the spatial correlation between digital finance and regional technological innovation,so as to determine the applicability of spatial econometric analysis to this paper.Then,select the appropriate spatial econometric model for empirical test,and further use the partial differential decomposition method to decompose the spatial spillover effect of digital finance on regional technological innovation into intra-regional spillover effect,inter-regional spillover effect and total effect.Finally,according to the above research results,the corresponding countermeasures and suggestions are put forward.The main research conclusion of this paper is that both digital finance and regional technological innovation have significant spatial correlation,and digital finance has significant spatial spillover effect on regional technological innovation.On the one hand,digital finance in this region can affect the level of technological innovation in the region from the supply side,and on the other hand,it will generate inter-regional spillover effect on the level of technological innovation in the spatially related regions through the flow of technological innovation elements between regions.Based on the above research conclusions,this paper puts forward targeted countermeasures and suggestions from five aspects,namely,promoting the coordinated development of digital finance among regions,accelerating the digital transformation of the financial industry,strengthening the spatial mobility of technological innovation elements,improving the regional knowledge absorption capacity,and improving the long-term mechanism of digital financial supervision,which will provide a basis for decision-making in implementing the strategy of coordinated regional development and building a new development pattern. |
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