科技金融、经济高质量发展与共同富裕——基于门槛效应的实证分析

Sci-TechFinance,High-Quality Economic Development and Common Prosperity:An Empirical Analysis Based on Threshold Effect

科技金融作为促进创新要素深度融合的一种新型经济范式,能够助推经济高质量发展与共同富裕的实现。在理论分析的基础上,运用熵值法计算我国2006—2021年的30个省区市的共同富裕指数与经济高质量发展水平,利用超效率DEA测算科技金融效率值,并采用固定效应和门槛效应模型检验科技金融与共同富裕间的关系,研究表明:科技金融与共同富裕间存在着“U”型关系,0.438为科技金融效率的拐点值;经济高质量发展在科技金融与共同富裕的关系中呈现双门槛效应,当经济高质量发展水平跨越第二门槛值0.155,科技金融对共同富裕的影响由负转正。从优化科技金融投入、加快科技金融产出、提供差异化政策、合理调整产业结构、健全保障机制方面为实现共同富裕提出建议。

As a new economic paradigm to promote the deep integration of innovation elements,science and technology(Sci-Tech)finance has boosted the progress of science and technology,better exerted the inclusive nature of finance,and injected the vitality of the age for the realization of common prosperity.Based on the theoretical analysis,this paper calculates the index of common prosperity level and the level of high-quality economic development of 30 provinces and municipalities in China from 2006 to 2021 with the entropy method,measures the efficiency value of science and technology finance by using super-efficiency DEA,and examines the relationship between science and technology finance and common prosperity by adopting fixed effect and threshold effect models.The study has the following findings.First,there is a“U”-shaped relationship between sci-tech finance and common prosperity,and 0.438 is the inflection point of science and technology financial efficiency.Second,the high-quality development of the economy presents a double-threshold effect in the relationship between sci-tech finance and common prosperity,and the impact of sci-tech finance on common prosperity turns from negative to positive when the level of high-quality development of the economy crosses the second threshold value of 0.155.Finally,the paper offers suggestions on realizing common prosperity by optimizing the inputs and accelerating the outputs of sci-tech finance,implementing differentiated policies,rationally adjusting the industrial structure,and enhancing the guarantee mechanism.