科技金融支持区域高新技术产业发展能力的实证研究

使用2008—2017年30个省级行政区的面板数据，利用熵权法测算地区高新技术产业发展水平，结合静态面板模型和PVAR模型，剖析科技金融对区域高新技术产业发展能力的具体影响。研究表明：高新技术产业发展水平存在区域差异；科技金融对高新技术产业发展具有促进作用，各指标对不同地区产业发展能力的影响不同。其中，政府科技投入对中部地区产业发展影响最大，企业自有资金对东西部地区促进作用较为显著，创业风险投资对西部高新技术产业影响最为强烈。长期来看，科技金融对高新技术产业发展的促进作用呈先上升再下降最后趋于稳定的动态趋势。

An Empirical Research on the Development Capability of Regional High-tech Industry Supported by Science and Technology Finance

Using the data of 30 provincial panels from 2008 to 2017, the entropy weight method is used to measure the development level of high-tech industries in the region. The static panel model and the PVAR model are used to analyze the specific impact of technological finance on the development capabilities of regional high-tech industries. The research shows that there are regional differences in the development level of high-tech industries; the sci-tech finance has a role in promoting the development of high-tech industries, and various indicators have different effects on the industrial development capabilities in different regions. Among them, the government investment on the science and technology has the greatest impact on the industrial development in the central region, the role of enterprise-owned funds in promoting the eastern and western regions is more significant, and the venture capital investment has the strongest impact on the western high-tech industries. In the long run, the role of science and technology finance in promoting the development of high-tech industries is a dynamic trend that first rises, then declines, and finally stabilizes.