科技金融、高技术产业集聚与新质生产力  

Sci-tech Finance,High-tech Industry Agglomeration and New Quality Productivity

作　　者：胡海青[1] 李卓艺 梁志康 刘一蓉 HU Haiqing;LI Zhuoyi;LIANG Zhikang;LIU Yirong(School of Economics and Administration,Xi an University of Technology,Xi an 710054,China)

机构地区：[1]西安理工大学经济与管理学院,陕西西安710054

出　　处：《财经论丛》2025年第3期51-63,共13页Collected Essays on Finance and Economics

基　　金：国家自然科学基金项目(72072144;71672144);陕西省创新能力支撑计划软科学研究计划项目(2024ZC-YBXM-031)。

摘　　要：在实现经济高质量发展的现实需求下,科技金融为新质生产力发展提供了有力支撑。本文基于2012-2022年中国省级面板数据考察科技金融对新质生产力的影响,研究发现:科技金融能显著加快发展新质生产力,且政府科技拨款、企业研发投入对发展新质生产力的作用较金融科技贷款更显著。科技金融可以通过提高高技术产业集聚水平进而提高新质生产力发展水平。由于产业集聚不经济的存在,科技金融、高技术产业集聚与新质生产力之间存在非线性关系,科技金融对新质生产力的总体效应存在基于高技术产业集聚的单一门槛效应,当集聚水平超过门槛值时,科技金融对新质生产力无显著促进作用。锚定新质生产力发展需求,适当转移金融监管着力点、提高金融集聚水平可以强化科技金融对新质生产力的促进作用。研究结论深化了对新质生产力驱动因素与科技金融综合效应的理解,并为探究与中国省级层面新质生产力发展相适配的科技金融政策及产业结构布局提供参考。Under the realistic needs of achieving high-quality economic development,sci-tech finance has provided strong support for the development of new productive forces.Based on the provincial panel data in China from 2012 to 2022,this paper examines the impact of sci-tech finance on new quality productivity.The results show that sci-tech finance can significantly accelerate the development of new quality productivity,and the role of government sci-tech allocation and enterprise s own funds in the development of new quality productivity is more significant than that of the financial market.Mechanism analysis finds that sci-tech finance can improve new quality productivity by improving the agglomeration level of high-tech industries.The threshold effect further shows that there is a nonlinear relationship between sci-tech finance,high-tech industry agglomeration and new quality productivity due to the uneconomic existence of industrial agglomeration,and the overall effect of sci-tech finance on new quality productivity presents a single threshold effect based on the high technology industry agglomeration,and when the agglomeration level exceeds the threshold value,the overall impact of sci-tech finance on new quality productivity has no significant promoting effect.At the same time,anchoring the development needs of new quality productivity,appropriately shifting the focus of financial supervision,and improving the level of financial agglomeration can strengthen the role of sci-tech finance in promoting new quality productivity.The conclusions of this study deepen the understanding of the antecedents of the formation of new quality productivity and the comprehensive effect of sci-tech finance,and provide a reference for exploring the sci-tech finance policy and industrial structure layout that are compatible with the improvement of new quality productivity at the provincial level in China.

关 键 词：科技金融 新质生产力 高技术产业集聚 金融监管 金融集聚 

分 类 号：F832[经济管理—金融学] F124