The Impact of Science and Technology Finance Policy on Technology Convergence of Digital and Real Economy Industries
The deep integration of the digital economy with the real economy is is one of the inherent requirements of high-quality economic development.Whether the"living water"of technology finance can promote the"Technology Convergence of Digital and Real Economy Industries"is an important issue worthy of study.Based on the quasi natural experiment of the pilot policy of combining science and technology with finance,this paper uses difference-in-differences method to deeply evaluate the impact and mechanism of the science and technology finance policy on the technology convergence of digital and real economy industries at the micro level.The study found that science and technology finance policy significantly promote the technology convergence of digital and real economy industries in enterprises.After a series of robustness tests,the conclusion is still valid.The heterogeneity test finds that the science and technology finance policy is more obvious in areas with large-scale,growth,maturity and capital agglomeration enterprises and insufficient supply of high-end talent resources,high level of digital economic policy supply and high level of informatization.Mechanism analysis shows that the implementation of science and technology finance policy can promote the reallocation of production factors(capital,technology,talents and data factors),stimulate regional innovation and entrepreneurship activity,and then promote the technology convergence of digital and real economy industries.The research conclusions have important policy implications for China to use science and technology finance to promote the technology convergence of digital and real economy industries and even promote the high-quality development of the real economy in the process of building a financial power.
Science and Technology Finance PolicyTechnology Convergence of Digital and Real Economy IndustriesDifference-in-Differences
NETL
NSTL
万方数据
