区域金融发展对技术创新的双重作用机制研究  

Dual-Effect Mechanism of Regional Financial Development in Technological Innovation

作　　者：张黎娜 千慧雄[2] Zhang Lina;Qian Huixiong(Statistical Analysis Department,National Internet Finance Association of China,Beijing 100080,China;Institute of Economics,Jiangsu Academy of Social Sciences,Jiangsu,Nanjing 210004,China)

机构地区：[1]中国互联网金融协会统计分析部,北京100080 [2]江苏省社会科学院经济研究所,江苏南京210004

出　　处：《金融经济学研究》2020年第1期104-116,共13页Financial Economics Research

基　　金：国家自然科学基金项目(71273128)。

摘　　要：在垂直创新的框架下,构建金融发展对技术创新的双重作用机制模型的研究表明:技术创新速度与金融服务效率正相关,与攫取效应负相关;创新项目代际幅度、创新抵达率、创新人员实际创新概率,这三个变量都能够通过提升创新价值来促进创新;最终产品部门劳动生产率的提高通过竞争效应会抑制技术创新;区域人口增加可以通过劳动市场要素供给和产品市场需求拉动两个途径促进技术创新。另外,中国金融发展整体上促进了技术创新,但风险包容性不高,且存在结构性差异。与中西部地区相比,东部地区金融服务效率较高且金融市场势力也更强。因此,为推进中国创新发展,一方面要多渠道提升金融效率,优化金融结构,增强金融系统的风险包容性;另一方面也要推动市场改革,适度调控金融机构市场势力。Under the vertical innovation framework,this study constructed a dual-effect mechanism model of financial development in technological innovation.The following findings were obtained.The speed of technological innovation has a positive correlation with the efficiency of financial services but a negative correlation with the capture effect.All three variables,including the intergenerational range of innovation projects,arrival rate of innovations,and actual probability of innovation among innovators were able to promote innovation by increasing the value of innovation.Increased labor productivity in the final product sectors would inhibit technological innovation through the effects of competition.Increased regional population could promote technological innovation through two channels,namely supply in the labor market and demand pull in the product market.Furthermore,China’s financial development,as a whole,has promoted technological innovation,but its risk tolerance is not high and structural differences exist.Compared to the central and western regions,financial services in the eastern region were more efficient,while the financial market power in this region was stronger.Therefore,to advance innovative development in China,it is necessary to improve financial efficiency through multiple channels,optimize the financial structure,and enhance the risk tolerance of the financial system.On the contrary,it is also necessary to promote market reforms and moderately regulate financial institutions’ market power.

关 键 词：金融发展 金融服务功能 金融攫取功能 技术创新 

分 类 号：F832.5[经济管理—金融学]