政府引导基金对城市创新的影响研究——基于政府引导与市场运作的双重属性  

Research on the influence of government guidance funds on urban innovation--An research based on government guidance and market operation

作　　者：庄德林[1] 方芳 朱晨 ZHUANG Delin;FANG Fang;ZHU Chen(School of Economics,Hefei University of Technology,Hefei,Anhui 230601,China)

机构地区：[1]合肥工业大学经济学院,安徽合肥230601

出　　处：《贵州财经大学学报》2025年第1期61-70,共10页Journal of Guizhou University of Finance and Economics

基　　金：国家自然科学基金青年项目“城市群文化共融激励创新的作用机制、效应识别与实现路径”(72003055)。

摘　　要：政府引导基金已经成为各级政府深入实施创新驱动发展战略的重要抓手。不同于已有研究多关注政府引导基金对企业层面的创新效应,本文着重考察政府引导基金对城市创新的影响效应,并从“政府引导”与“市场运作”双重属性视角分析其背后的理论机理。基于2008—2021年268个地级市数据,采用双重差分模型评估政府引导基金对城市创新的影响。研究发现,设立政府引导基金显著提升了城市创新水平,该结果在经过一系列稳健性检验后依旧成立。其内在机制在于利用政府引导基金的双重属性,发挥资本引导效应和人才引导效应吸引创新资源集聚。政府引导基金的创新效应因政府能力和市场化水平的不同存在差异。研究结论可为相关政府部门因地制宜地制定政府引导基金规划,通过有为政府与有效市场的结合提升城市创新水平提供理论启示。Government guidance funds have become a crucial tool for governments at all levels to deeply implement innovation-driven development strategies.Unlike existing research that primarily focuses on the innovative effects of government guidance funds on enterprises,this paper emphasizes the impact of these funds on urban innovation and analyzes the underlying theoretical mechanisms from the dual perspectives of"government guidance"and"market operation."Using data from 268 prefecture-level cities between 2008 and 2021,the study employs a Difference-in-Differences model to evaluate the effect of government guidance funds on urban innovation.The results indicate that the establishment of government guidance funds significantly enhances urban innovation levels,and this finding remains robust after a series of robustness checks.The underlying mechanism involves leveraging the dual attributes of government guidance funds to exert capital guidance effects and talent guidance effects,thereby attracting the aggregation of innovative resources.The innovative effects of government guidance funds vary depending on government capabilities and marketization levels.The research conclusions provide theoretical insights for relevant government departments to formulate government guidance fund plans tailored to local conditions and enhance urban innovation levels through the combination of an active government and an efficient market.

关 键 词：引导基金 城市创新 资本引导 人才引导 

分 类 号：F832[经济管理—金融学]