我国科技金融与经济增长关系的区域差异研究——基于动态面板数据模型的实证分析

Research on the Regional Differences in the Relationship Between Sci-tech Finance and Economic Growth in China——Based on Empirical Analysis of the Dynamic Panel Data Model

根据我国东中西部地区的区域划分,选取我国31个省级行政区2006-2016年科技金融发展与经济增长各项指标的数据,运用面板单位根检验、协整检验以及GMM估计构造动态面板数据模型,检验并分析了科技金融与经济增长关系的区域差异。实证检验的结果表明:发展科技金融对我国经济增长具有重要的促进作用,但由于我国经济发展的区域差异,以及金融和资本市场发展程度的差距,造成科技金融对东部地区的增长效应要明显大于中西部。在此研究基础上,提出科技金融发展的区域化战略等政策建议。

According to the regional division of China’s eastern, central and western regions, the data of various indicators of Sci-tech finance development and economic growth in 31 provinces and cities from 2006 to 2016 were selected. The dynamic panel data model was constructed by the panel unit root test, co-integration test and GMM estimation, and the regional differences of the relationship between Sci-tech finance and economic growth were tested and analyzed. The empirical results show that the development of science and technology finance plays an im-portant role in promoting China’s economic growth. However, due to the regional differences in China’s economic development and the gap between financial and capital markets, the growth effect of science and technology finance in eastern China is significantly greater than that in central and western China. On the basis of the study, some policy suggestions are put forward, such as regionalization strategy of Sci-tech finance development.