基于脉冲响应函数的技术创新资金结构研究

Study on Investment Structure of Technological Innovation Based on the Impulse Response Function

采用时间序列回归及脉冲响应函数方法,分析我国汽车产业创新资金结构问题。实证研究表明,银行贷款和投资者权益对企业研究与开发的资金投入强度影响为负,中央及地方的财政支出和研究与开发资金投入强度正相关。由此可以看出,我国汽车产业不能单纯依靠财政支出,还应加强技术创新资金的自我筹集能力,使研究与开发活动逐步适应市场发展规律。

This paper using time series regression and the impulse response function, analyzes investment structure of China＇s automobile industry innovation. Empirical study finds that bank loans and the investment of investors negatively impact the R ＆ D intensity, the central and local fiscal expenditure positively impact the R ＆ D intensity. Therefore, China＇s automobile industry should not only rely on fiscal expenditure, but also need to strengthen the self - raised funds of the technological innovation, so that making R＆D activities adapt to the progressive development of the market rules.