技术创新、金融创新与经济增长——基于中国省际面板数据

Technological Innovation, Financial Innovation and Economic Growth——Based on the Data Analysis of the Chinese Provincial Panel

本文从实证分析层面对金融创新、技术创新与经济增长之间的作用关系进行探讨。基于我国2000~2015年省级面板数据,采用GMM估计方法,利用动态面板模型进行实证检验。结果表明:技术创新对经济增长的影响显著为正,单独的金融创新对经济增长起抑制作用,二者的交互作用则对经济增长起显著性正向作用。脱离实体经济的金融创新将抑制经济增长,也会间接阻碍技术创新对经济增长的影响。本文结合当前经济形势,从金融机构与创新企业相接轨共同提高创新水平、培养创新型人才等角度提出建议。

This paper discusses the function of financial innovation, technological innovation and economic growth from the empirical analysis level. Based on the provincial data of 2000-2015, GMM estimation method and the dynamic panel model are used for the empirical examination. The results show that the technology innovation has a positive significant effects to economic growth, individual financial innovation is inhibition for economic growth, the interactions of both have a significant positive effect on economic growth. When breaking away from real economy, financial innovation will restrain economic growth and indirectly hinder the impact of technological innovation on economic growth. In this paper, combining with the current economic situation, based on financial institutions and innovation enterprise convergence phase jointly improve the level of innovation, cultivating innovative talents are also proposed.