交通发展、要素流动与企业创新——基于高铁开通准自然实验的经验证据

TRANSPORTATION DEVELOPMENT, REGIONAL FACTOR FLOW AND INNOVATION ——Based on the Quasi Natural Experiment of High-speed Rail Commencement

交通发展对于区域经济增长的作用至关重要,创新则是经济增长最为持久的动力。本文利用高铁开通的外生冲击检验交通条件变化对企业创新的影响。研究发现,高铁开通能够显著促进当地企业的创新投资。进一步地,这种促进作用主要体现在高融资约束、高科技行业及民营企业当中。同时,主要的影响渠道包括技术人才的流动、信息环境的改善和融资约束的缓解等。这表明,交通改善有助于加快区域创新要素流动,促进企业创新的投入产出活动。

The development of transportation plays an important role in regional economic growth. and innovation is the most lasting impetus for economic growth. Using the quasi natural experiment of high-speed rail commencement, this paper examines the impact of transportation development on enterprise innovation. The results show that corporate innovate input and output increase after the located city commenced its first high-speed rail. This relation is more pronounced for firms with high financing constraints, high-tech firms as well as private firms. Mechanism tests indicate that the main channels are introduction of technical talents, improvement of information environment and alleviation of financing constraints. This paper has important implications on how the transportation development serve to the innovation-driven economic development.