上海市科技金融与经济增长关系的实证研究——基于VEC模型

Empirical study on the relationship between science and technology finance and economic growth in Shanghai city: based on the VEC model

本文选用金融深化程度、上海市R&D经费投入额和上海市GDP作为研究指标,通过VEC模型和Granger因果检验对上海市1996—2015年的科技金融与经济增长的关系进行了实证分析。研究结果表明:我国财政教育投入和经济增长之间存在着显著的协整关系,同时Granger检验证明二者互为因果关系。短期来看,科技金融对经济的增长存在较明显的促进作用;长期来看,金融对经济增长的影响越来越显著,而科技由于受自身性质和大环境的影响,财政的科技支出在较长的滞后期的影响较小,但依然存在正向影响。

This paper selects the degree of financial deepening, Shanghai R＆D expenditure and Shanghai CDP as research indicators, and empirically analyzes the relationship between technology finance and economic growth in Shanghai from 1996 to 2015 through VEC model and Granger causality test. The conclusion shows that there is a significant intergration between China＇s financial education investment and economic growth, and Granger＇s test proves that those two are causal. In the short term, technology finance has a significant role in promoting economic growth. In the long run, the impact of finance on economic growth is becoming more and more obvious. Because of the nature and the environment, the financial technology payment has little impact on the long lag period, but it still has a positive impact.