Research On The Promotion Effect Of Science And Technology Finance On High-quality Economic Development In China

In 2017,the report of the 19 th National Congress of the Communist Party of China made a major judgment on China’s social and economic development,China’s economy has shifted from the stage of high-speed growth to the stage of high-quality development,the traditional unbalanced,uncoordinated,and unsustainable extensive economic growth model no longer meets the current development needs,and how to achieve high-quality economic development transformation has become a hot spot for economists at present.Especially under the current impact of the global spread of the new crown epidemic,the downward pressure on the domestic economy has increased,and it is imperative to vigorously promote the high-quality development of the domestic economy.Science and technology finance has played a vital role in the high-quality development of the economy,science and technology finance is the organic combination of science and technology and finance,finance is empowered by scientific and technological innovation,and scientific and technological innovation drives high-quality economic development.Therefore,this paper is of great significance to the study of the promotion effect of science and technology finance on high-quality economic development.First of all,this paper sorts out in detail the domestic and foreign literature on science and technology finance and high-quality economic development,defines the core connotation of science and technology finance and high-quality economic development,and summarizes that the mechanism of science and technology finance affecting high-quality economic development can be divided into two paths:inter-regional and inter-regional.In the region,science and technology finance achieves direct impact on high-quality economic development through the intermediary variable of scientific and technological innovation;In the inter-regional,there is a spatial spillover of high-quality economic development,realizing the indirect impact of neighboring science and technology finance on the high-quality development of the local economy.Secondly,this paper constructs a scientific and technological financial indicator system from the three angles of science and technology financial environment,science and technology financial investment,and science and technology financial output,builds an index system for high-quality economic development from the five angles of innovation,coordination,green,openness and sharing,and then uses the entropy method to calculate the weight of the indicators of high-quality development of science and technology finance and economy,and then calculates the comprehensive score of the indicators.The phenomenon of decreasing west.Finally,this paper conducts an empirical analysis of the impact of science and technology finance on high-quality economic development.Empirical analysis results:Moran index is positive,there is an obvious spatial positive correlation between science and technology finance and high-quality economic development,and spatial quantitative analysis can be carried out;Spatial auto-regressive model of fixed effects is selected based on the Lagrange multiplier test and the Hausman test results;According to the analysis of individual fixation and time fixation results,science and technology finance has a significant role in promoting the high-quality development of the local economy,and the improvement of the high-quality economic development level of neighboring regions will also drive the high-quality development of the local economy,and there is a positive spatial agglomeration effect.In view of this,in order to improve the development level of science and technology finance and promote high-quality economic development,this paper puts forward the following suggestions: improve the development policy of science and technology finance,broaden the financing channels of science and technology enterprises,promote innovation in science and technology finance,build a shared service platform for science and technology finance,and strengthen the risk management and control of science and technology finance.