基于中介效应的金融发展、资本形成与技术创新研究

Research on Financial Development, Capital Formation and Technological Innovation Based on Intermediary Effect

金融体系的发展和完善促进资本的形成,资本的形成和积累为技术的创新创造了必要的条件。金融发展、资本形成与技术创新都是影响经济发展的重要因素,因此研究三者之间关系的尤为重要。文章深入研究了金融发展、资本形成与技术创新三者间的内在作用机制,通过1996～2015年我国30个省的数据,利用中介效应模型实证检验了金融发展、资本形成与技术创新之间的关系。实证研究发现,金融发展促进技术创新的重要渠道之一是促进资本形成。

The development and improvement of the financial system promote the formation of capital,and the formation and accumulation of capital provide the necessary conditions for the technological innovation.Financial development,capital formation and technological innovation are all important factors affecting economic development.Therefore,the research on the relationship between financial development,capital formation and technological innovation is particularly important.This paper theoretically studied the intrinsic mechanism of the financial development,capital formation and technological innovation,collected the data of 30 provinces in China from 1996 to2015,by using the intermediary effect model empirically tested the relationship between the financial development,capital formation and technological innovation.Empirical studies have found that capital formation is one of the important ways for financial development to promote technological innovation.