科技金融发展40年:基于演化视角的分析

Development of Science and Technology Finance for 40 Years: Analysis Based on Evolutionary Perspective

改革开放四十年来,科技金融作为新的模式迅速进入科技创新的资本供给领域。本文借鉴演化经济学的思想方法,将演化作为科技金融发展表象后的根本因素,以演化的理论框架分析和理解我国科技金融发展的历程,从而探索形成研究和理解科技金融发展的新范式。首先阐释科技金融演化分析的基本假设:经济主体的有限理性、不确定性和多样性假设、时间的不可逆性。从时间维度,比较清晰地剖析了我国科技金融的演进历程。剖析科技金融发展的核心范畴,包括惯例、新奇与搜寻、选择过程。科技金融模式的演化路径是对接社会主义市场经济体制改革的路径创造,其演化发展受到经济基础、金融自身、制度环境等因素的共同影响。结合演化路径和分析,提出了我国未来科技金融发展的方向与重点。

In the past four decades of reform and opening up, science and technology finance has rapidly entered the capital supply field of scientific and technological innovation as a new model. Adopting the method of evolutionary economics, this paper takes the opinion that the evolution is a representation of the underlying factors after financial development of science and technology. With the evolutionary framework, it analyzes the process of financial development of science and technology in our country in order to explore the new paradigm of the development of science and technology finance. First of all, the basic hypothesis of the analysis of the evolution of science and technology is explained: the limited rationality, uncertainty and diversity hypothesis, and the irreversibility of time. The evolution of China' s science and technology finance is analyzed from the time dimension. Analyze the core category of science and technology finance development, including practice, novelty and search, selection process. Docking technology evolution path of the financial model is the path of the socialist market economic system reform to create, its evolution and development are economic base, finance itself, the system environment. Combining the evolution path and the analysis, the paper puts forward the direction and key points of the future development of science and technology finance in China.