基于省域面板数据的金融结构对技术创新的影响研究

发布时间：2018-03-22 05:00

本文选题：金融结构　切入点：技术创新　出处：《上海师范大学》2017年硕士论文　论文类型：学位论文

【摘要】：金融结构与技术创新一直是学术界研究的热点问题,自从Goldsmith(1969)首次提出了“金融结构”这一概念并对此进行了详细的理论论述和跨国实证性检验以来,对于金融结构与经济增长之间的关系学术界进行了大量的理论分析与实证检验,并得出了比较一致结论:一个完善的金融结构对经济增长具有显著的促进作用。但是,关于金融结构与技术创新之间的关系和金融结构对技术创新影响路径的研究却还比较少。在进行“供给侧改革”的大背景下,去杠杆是一个重要的任务,对于稳定经济增长,降低企业经营风险具有重大现实意义,本文从金融结构对创新产出的影响路径出发,构建包含金融结构和技术创新的相关的分析模型,并从区域层次的角度进行研究,根据创新产出的相应特征,采取相关的计量模型进行实证分析,从而探究二者之间的关系。这对于金融结构与创新产出之间的理论研究和实证方面的研究都有着一定的贡献,并且实证研究的结果解释了“去杠杆”对于促进技术创新、稳定经济增长的现实意义。论文首先针对我国目前经济发展的现状以及存在的问题,提出了本文的研究的意义和现实动因,总结分析了国内外金融结构调整对技术创新的研究现状并给出了论文的研究思路、主要内容和技术路线。在理论分析的基础上,论文对金融结构与区域技术创新的关系进行了计量经济模型分析,运用2001~2014年省域面板数据对金融集聚对区域经济增长的影响进实证分析表明结构对区域技术创新的影响系数在0.01的显著性水平下通过显著性检验,金融结构发生调整时,直接融资比例比间接融资每提高1%会对经济增长带来0.02%的促进作用,而金融市场的融资总量对技术创新的影响作用并不明显,地区经济发展水平、政府财政购买支出、外商直接投资的增加有利于技术创新产出的增加。考虑到我国技术创新的空间地理特征,论文运用前沿的空间面板数据计量方法对金融结构与区域技术创新增长的空间效应进行了分析,通过计算中国技术创新的Moran’s I指数确定中省域技术创新产出存在空间相关性,在此基础上论文通过建立空间面板滞后模型(SPLM)和空间面板误差模型(SPEM)进行分析,结果表明金融结构每增加1%会对区域的技术创新带来0.006%的促进作用,与普通面板数据相比结论相对较为稳健,也通过了模型的稳健性检验。说明在当今技术创新产出在异质性的空间具备较强领域影响力,这可能是因为省域之间加强了科技创新交流与合作的缘故。
[Abstract]:Financial structure and technological innovation have always been a hot topic in academic circles. Since Goldsmith put forward the concept of "financial structure" for the first time, he has made a detailed theoretical discussion and transnational empirical test on it. The relationship between financial structure and economic growth has been analyzed and tested by a great deal of theoretical and empirical results, and the conclusion is that a perfect financial structure can promote economic growth significantly. However, there are few studies on the relationship between financial structure and technological innovation and the influence of financial structure on technological innovation. Under the background of "supply-side reform", deleveraging is an important task for stabilizing economic growth. It is of great practical significance to reduce the risk of enterprise management. This paper starts from the influence path of financial structure on innovation output, constructs the relevant analysis model including financial structure and technological innovation, and studies it from the angle of regional level. According to the corresponding characteristics of innovation output, empirical analysis is carried out by adopting relevant econometric models to explore the relationship between them, which contributes to the theoretical and empirical research between financial structure and innovation output. And the results of the empirical study explain the practical significance of "deleveraging" in promoting technological innovation and stabilizing economic growth. This paper puts forward the significance and realistic motivation of this paper, summarizes and analyzes the present research situation of financial structure adjustment on technological innovation at home and abroad, and gives the research ideas, main contents and technical route of the thesis. The relationship between financial structure and regional technological innovation is analyzed by econometric model. The impact of financial agglomeration on regional economic growth is analyzed by using provincial panel data from 2001 to 2014. The empirical analysis shows that the influence coefficient of structure on regional technological innovation is significant at 0.01 level. Each increase in direct financing ratio by 1% will bring about 0.02% promotion to economic growth, while the total amount of financing in financial markets does not have a significant impact on technological innovation. The level of regional economic development and government expenditure on financial purchases are not obvious. The increase of foreign direct investment is conducive to the increase of technological innovation output. Considering the spatial and geographical characteristics of technological innovation in China, In this paper, the spatial effects of financial structure and regional technological innovation growth are analyzed by using the frontier spatial panel data measurement method. The spatial correlation of provincial technological innovation output is determined by calculating the Moran's I index of Chinese technological innovation. On the basis of this, the paper analyzes the spatial panel lag model (SPLM) and the spatial panel error model (SPEMM). The results show that every 1% increase of financial structure will bring 0.006% promotion to regional technological innovation. Compared with the general panel data, the conclusion is relatively robust, and it also passes the robustness test of the model. This may be due to the strengthening of scientific and technological innovation exchanges and cooperation between the provinces.
【学位授予单位】：上海师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.1;F124.3

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