粤港澳大湾区金融集聚对技术创新的影响机制及政策建议

The Impact Mechanism and Policy Recommendations of Financial Agglomeration in the Guangdong-Hong Kong-Macao Greater Bay Area on Technology Innovation

金融集聚作为影响创新资源集聚的核心因素,对技术创新起着重要的支撑作用。采用粤港澳大湾区11个城市2000-2018年的面板数据进行实证检验,研究发现:粤港澳大湾区金融集聚对科技创新存在非线性影响,呈现为倒U型特征,即在拐点之前金融集聚对科技创新具有正向的影响,在拐点之后其影响为负;银行业、保险业集聚与科技创新均不存在非线性关系;此外,政府支持政策与地区经济发展水平对科技创新有显著的推动作用,企业的创新投入和教育水平对科技创新未有显著的影响。建议粤港澳大湾区应充分发挥金融集聚对科技创新的正向影响效应,构建多层次和多样化的新型金融体系,加强大湾区内各市之间金融市场的互联互通和合作,从而实现科技创新与金融的协同发展。

As a core factor affecting the agglomeration of innovation resources,financial agglomeration plays an important supporting role in technological innovation.Using panel data of 11 cities in the Guangdong-Hong Kong-Macao Greater Bay Area from 2000 to 2018,an empirical test was conducted.The study found that the financial agglomeration of the Guangdong-Hong Kong-Macao Greater Bay Area has a non-linear effect on technological innovation and presents an inverted U-shaped characteristic,that is,the finance agglomeration has a positive impact on scientific and technological innovation before the turning point,and its impact is negative after the inflection point;there is no non-linear relationship between banking and insurance agglomeration and technological innovation;in addition,government support policies and regional economic development levels have a significant effect on technological innovation,the company’s innovation investment and education level have no significant impact on scientific and technological innovation.It is believed that the Guangdong-Hong Kong-Macao Greater Bay Area should give full play to the positive impact of financial agglomeration on technological innovation,build a multi-level and diversified new financial system,and strengthen the interconnection and cooperation of financial markets between cities in the Greater Bay Area,so as to realize technology coordinated development of innovation and finance.