The Direct and Spillover Effects of Financial Support on Technological Innovation——Research Based on Spatial Panel Durbin Model

Abstract

Abstract:

Financial support is an important means to achieve technological innovation.With the development of financial center, the technological innovation has become highly dependent on the support of financial system.From the perspective of the financial efficiency, structure and scale support as well as the development of foreign investment, this paper analyzes the influence of financial support for technological innovation.Choosing different indicators to measure the financial support and technical innovation development, using the spatial panel Durbin model, we analyze the impact of financial development on technological innovation, then explore the direct and spa-tial spillover effects of financial support on technological innovation.The empirical results show that:the financial support has a direct effect on technological innovation;the financial efficiency and scale have a spatial spillover effect on technological innovation.Finally, based on the empirical results, the paper gives some suggestions for promoting China's financial support to technological innovation.

Key words: financial support, technology innovation, direct effect, spillover effect, Durbin model

Cao Xia, Zhang Lupeng. The Direct and Spillover Effects of Financial Support on Technological Innovation——Research Based on Spatial Panel Durbin Model[J]. , 2017, 29(7): 36-45.

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