财政科技投入对数字经济发展的影响

The Influence of Financial Investment of Science and Technology on the Development of Digital Economy

本文在理论分析的基础上,基于CRITIC方法测算数字经济发展水平指数,采用时间和个体双向固定效应模型,研究财政科技投入对数字经济发展水平的影响。结果表明,财政科技投入与数字经济发展水平之间为正“U”型非线性影响;其机理在于财政科技投入对数字经济发展水平具有非数字科技创新挤出效应、数字科技创新促进效应和数字基础设施支撑效应;非数字科技创新挤出效应即财政科技投入促进了非数字科技创新水平的提升,从而抑制了数字经济发展;数字科技创新促进效应即财政科技投入提升了数字科技创新水平,促进了数字经济发展;数字基础设施支撑效应即财政科技投入有力推动了数字基础设施建设,促进了数字经济发展。

Based on the theoretical analysis and the digital economy development level index which is calculated by critical method,this paper uses the time and individual two-way fixed effect model to study the impact and mechanism of financial science and technology investment on the development level of digital economy.The results show that there is a"positive U"nonlinear effect between financial investment of science-and-technology and the development level of digital economy.Its mechanism lies in the crowding out effect of financial investment of science-and-technology on the development level of digital economy,the promotion effect of digital science and technology innovation and the supporting effect of digital infrastructure construction.The crowding out effect of non-digital science-and-technology innovation is that the financial science-and-technology input promotes the level of non-digital science and technology innovation,which inhibits the development of digital economy.The promotion effect of digital science-and-technology innovation is that financial investment in science-and-technology improves the level of digital-and-technology innovation and promotes the development of digital economy.The supporting effect of digital infrastructure is that the financial investment in digital-and-technology strongly promotes the construction of digital infrastructure and promotes the development of digital economy.