科技金融政策能否提升城市创业活跃度——基于“促进科技和金融结合试点”的准自然实验  

Does Science and Technology Finance Policies Increase Entrepreneurial Activities in Cities:Quasi‑Natural Experiment Based on the Pilot Policy of Combining Science and Technology With Finance

作　　者：邢小明[1] 应兆琦 章文颖 XING Xiao-ming;YING Zhao-qi;ZHANG Wen-ying(School of Applied Economics(School of Digital Economics),Jiangxi University of Finance and Economics,Nanchang 330013,China)

机构地区：[1]江西财经大学应用经济学院(数字经济学院),江西南昌330013

出　　处：《东北财经大学学报》2024年第4期74-86,共13页Journal of Dongbei University of Finance and Economics

基　　金：国家自然科学基金一般项目“数字化背景下供应链网络特征对企业技术创新的影响研究”(72262019)。

摘　　要：科技金融政策能否促进经济社会包容性发展,其效应如何是一项值得关注的议题。本文基于2004—2021年中国280个地级及以上城市的面板数据,将“促进科技和金融结合试点”政策视为一项准自然实验,采用双重差分法考察了科技金融政策对城市创业活跃度的影响及作用机制。研究发现:科技金融政策显著提升了城市创业活跃度,该结论经过一系列稳健性检验后依然成立。机制检验表明,科技金融政策通过人才集聚效应、金融助推效应、科技创新效应和消费扩张效应提升城市创业活跃度。异质性分析表明,科技金融政策对东部地区城市、高市场化程度的城市,以及服务业尤其是非生产性服务业创业活跃度的提升作用更为明显。经济后果分析表明,科技金融政策所产生的创业效应能够有效转化为就业创造效应,但这一效应主要体现在第三产业。本文研究结论为有效发挥科技金融政策的创业效应,实现稳就业、促发展的目标提供了有益的政策启示。In recent years,the global economy has been faced with high uncertainties.As economic development enters the new normal stage,China faces the dual challenges of declining demographic dividend and unbalanced regional economic development,and the structural contradictions in employment and regional problems have become increasingly prominent.In this context,how to effectively foster people’s entrepreneurial enthusiasm in order to better stimulate job creation and drive high‑quality economic development has become particularly critical.Science and technology finance serves as the first chapter of the“five chapters”of boosting China’s strength in finance,and the system of science and technology innovation and financial innovation can promote inclusive economic and social development,but there is still a lack of research on how it affects entrepreneurial activities in cities.Therefore,it is of great significance to explore the internal logic between the two.Based on the panel data of 280 cities at the prefecture level or above from 2004 to 2021,this paper considers the pilot policy of combining science and technology with finance as a quasi‑natural experiment and uses the difference‑in‑differences(DID)method to investigate the influence and mechanism of science and technology finance policies on entrepreneurial activities in cities.It is found that science and technology finance policies significantly improve entrepreneurial activities in cities.This conclusion is still valid after a series of robust tests,and this effect is dynamic and sustained.The mechanism test shows that science and technology finance policies enhance entrepreneurial activities in cities by attracting scientific and technological talents,boosting financial development,driving scientific and technological innovation and expanding consumption potential.Heterogeneity analysis shows that the influence of science and technology finance policies on entrepreneurial activities is more significant in cities in the eastern region,cities wit

关 键 词：科技金融政策 创业活跃度 科技创新 

分 类 号：F832[经济管理—金融学] F279.2