Sci-tech Finance Policies and Regional Innovation:Evidence from the Pilot of Combining Science and Technology Finance
The 20th CPC National Congress emphasized that Science and technology is the first productive force and we should build the environment for the strategy of innovation driven development.Taking 248 cities from 2004 to 2019 as samples,this paper examines the impact of the pilot policy of Sci-Tech finance on regional innovation.The results show that the policy has a significant role in improving regional innovation.The main mechanism of this effect is strengthening the construction of finance and innovation carriers.Heterogeneity analysis finds that the policy has greater impacts on innovation in higher development level and human capital level regions.Finally,this paper finds that the pilot policy of Sci-Tech finance significantly promotes enterprise innovation by alleviating financing constraints.The research results have policy implications in Sci-Tech finance and the country's self-reliance and self-improvement in science and technology.
NETL
NSTL
万方数据
