Innovation Spillover Effects of Sci-Tech Finance Policy——A Dual Perspective Based on Knowledge Spillover and Production Networks
Taking the"pilot policy of promoting the integration of science,technology and finance"as a quasi-natural ex-periment,this paper examines the innovation spillover effects of the pilot policy and its spillover channels using the Differ-ence-in-Differences method based on the panel data of 215 cities in China in the period of 2007-2015.The study finds that the pilot policy has innovation spillover effects,significantly increasing the innovation level of non-pilot cities within the province.The spillover channel test shows that the innovation effects of the pilot policy are mainly transmitted from the pilot cities to the non-pilot cities within the province through knowledge spillovers and production networks.Further analy-sis reveals that the innovation spillover effects of the pilot policy are more pronounced in non-pilot cities within the province which are geographically closer to the pilot cities and have better transport infrastructure.
NETL
NSTL
万方数据
