中国科技创新的金融支持研究
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摘要
随着知识经济时代的到来和经济全球化进程的加快,国际竞争变得越来越激烈。科技创新成为众多国家提升综合国力和核心竞争力的首选路径。2006年中国政府确立了建设创新型国家的发展战略,然而创新型国家建设是一项复杂的系统工程,需要有有利于创新的体制机制。其中,金融是促进科技创新极为重要的机制和制度安排。一个功能完备、运行高效的金融体系不仅能够融通创新所需的资金,而且还具有风险分散、激励约束、价格发现等功能,为科技创新保驾护航。
近年来,中国政府相关部门已推出了一系列金融扶持政策及相关优惠措施,科技与金融的结合取得了很大进展。然而,科技企业融资难、创新效率低下等问题仍然存在。为解决这些问题,作者深入阐释了金融促进科技创新的机制,总结了国外金融支持科技创新的成功经验,考察了中国金融支持科技创新的现状,揭示了中国金融支持科技创新的制约因素,实证分析了中国金融支持与科技创新之间的关系,提出了优化中国科技创新金融支持体系的对策建议。具体内容如下:
第1章是导论。主要阐明了本研究的选题背景和研究意义,综述了国内外相关文献研究现状,指出了现有研究的不足,并给出了本研究内容框架及所采用的方法体系。
第2章是金融支持科技创新的理论基础。主要从历史演进的角度阐述了创新理论和金融发展理论,并总结了这些理论研究对本文的启示。
第3章是金融促进科技创新的机制分析。主要采用演绎推理方法,详细论证了金融促进科技创新的资本形成机制、风险分散机制、信息揭示机制和激励约束机制,为后续研究奠定了理论基础。
第4章是金融支持科技创新的经验借鉴。主要采用比较分析方法归纳总结了美国、日本和韩国这三个国家金融支持科技创新的经验,并得出了一些重要启示。
第5章是中国金融支持科技创新的现状考察与制约因素。首先采用统计描述方法精确刻画了中国金融支持科技创新的现状,然后采用规范分析方法厘清了中国金融支持科技创新的制约因素,这些研究为提出有针对性的建议提供了指引。
第6章是中国金融支持科技创新的实证分析。首先测度了中国科技创新程度,然后构建了VAR模型,进行了协整检验、格兰杰因果关系检验、脉冲响应函数分析和方差分解,并就相关结论进行了解释。
第7章是优化中国科技创新金融支持体系的对策建议。本章是全文的落脚点和归宿,在前面章节研究的基础上,采用归纳演绎与对策研究相结合的方法,尝试性地提出了优化中国科技创新金融支持体系的对策建议。
第8章是结论与展望。
With the advent of the knowledge economy and the acceleration of the economic globalization process, international competition is becoming increasingly fierce. Scientific and technological innovation (hereafter referred to as S&T innovation) has become the preferred path of many countries to improve comprehensive national power and core competitiveness. The Chinese government established a development strategy of the innovation-oriented country in 2006. However, to build an innovation-oriented country is a complex system engineering and requires system and mechanism beneficial to innovation. The key is to establish a fully functioning and efficient financial system. By providing funds, risk management, incentive constraints, price discovery and other services, financial system promotes S&T innovation.
In recent years, China's related government department has made a series of financial policies and measures promoting S&T innovation. At the same time, the combination of technology and finance has made considerable progress. However, Scientific and Technological Enterprise is still perplexed by some problems such as difficulty in financing and low efficiency of innovation. Therefore, the author has interpreted deeply that how finance system supports S&T innovation, summarized the foreign experience of finance system supporting for S&T innovation, explored the current situation of China's finance system supporting for S&T innovation, revealed the restrictive factors of China's finance system supporting for S&T innovation, made an empirical analysis between China's financial support and S&T innovation, and put forward some suggestions about optimizing the finance system supporting for S&T innovation in China. The rest of the paper is structured as follows.
In Chapter One, we demonstrated the background and significance of this paper, summarized the related literature and point out their shortcomings. At last, we presented framework and methods of the paper.
In Chapter Two, from the perspective of evolution, we elaborately described the innovation theory and financial development theory, and summarized some enlightenment for this research.
In Chapter Three, using deductive reasoning method, we demonstrated in detail the capital formation mechanism, risk diversification mechanism, information revelation mechanism and sound incentive constraint mechanism. By these mechanisms, finance system boosts S&T innovation.
In Chapter Four, with the comparison analysis method, we summarized the experiences of finance system promoting S&T innovation in United States, Japan and South Korea and received some useful enlightenment.
In Chapter Five, using statistical interpretation method and normative analysis respectively, we accurately described the current situation and revealed restrictive factors of China's finance system supporting for S&T innovation, which provides guidance that how China's finance system supports S&T innovation.
In Chapter Six, based on the measurement of China's scientific and technological innovation, we established a VAR model about financial support and S&T innovation, then made co-integration test, Granger causality test, impulse response function analysis and variance decomposition, and interpreted these empirical results.
In Chapter Seven, through deductive reasoning and countermeasure research, we presented some suggestions about optimizing China's finance system supporting for scientific and technological innovation.
Finally, we summarized the main conclusions and proposed the further research fields.
近年来,中国政府相关部门已推出了一系列金融扶持政策及相关优惠措施,科技与金融的结合取得了很大进展。然而,科技企业融资难、创新效率低下等问题仍然存在。为解决这些问题,作者深入阐释了金融促进科技创新的机制,总结了国外金融支持科技创新的成功经验,考察了中国金融支持科技创新的现状,揭示了中国金融支持科技创新的制约因素,实证分析了中国金融支持与科技创新之间的关系,提出了优化中国科技创新金融支持体系的对策建议。具体内容如下:
第1章是导论。主要阐明了本研究的选题背景和研究意义,综述了国内外相关文献研究现状,指出了现有研究的不足,并给出了本研究内容框架及所采用的方法体系。
第2章是金融支持科技创新的理论基础。主要从历史演进的角度阐述了创新理论和金融发展理论,并总结了这些理论研究对本文的启示。
第3章是金融促进科技创新的机制分析。主要采用演绎推理方法,详细论证了金融促进科技创新的资本形成机制、风险分散机制、信息揭示机制和激励约束机制,为后续研究奠定了理论基础。
第4章是金融支持科技创新的经验借鉴。主要采用比较分析方法归纳总结了美国、日本和韩国这三个国家金融支持科技创新的经验,并得出了一些重要启示。
第5章是中国金融支持科技创新的现状考察与制约因素。首先采用统计描述方法精确刻画了中国金融支持科技创新的现状,然后采用规范分析方法厘清了中国金融支持科技创新的制约因素,这些研究为提出有针对性的建议提供了指引。
第6章是中国金融支持科技创新的实证分析。首先测度了中国科技创新程度,然后构建了VAR模型,进行了协整检验、格兰杰因果关系检验、脉冲响应函数分析和方差分解,并就相关结论进行了解释。
第7章是优化中国科技创新金融支持体系的对策建议。本章是全文的落脚点和归宿,在前面章节研究的基础上,采用归纳演绎与对策研究相结合的方法,尝试性地提出了优化中国科技创新金融支持体系的对策建议。
第8章是结论与展望。
With the advent of the knowledge economy and the acceleration of the economic globalization process, international competition is becoming increasingly fierce. Scientific and technological innovation (hereafter referred to as S&T innovation) has become the preferred path of many countries to improve comprehensive national power and core competitiveness. The Chinese government established a development strategy of the innovation-oriented country in 2006. However, to build an innovation-oriented country is a complex system engineering and requires system and mechanism beneficial to innovation. The key is to establish a fully functioning and efficient financial system. By providing funds, risk management, incentive constraints, price discovery and other services, financial system promotes S&T innovation.
In recent years, China's related government department has made a series of financial policies and measures promoting S&T innovation. At the same time, the combination of technology and finance has made considerable progress. However, Scientific and Technological Enterprise is still perplexed by some problems such as difficulty in financing and low efficiency of innovation. Therefore, the author has interpreted deeply that how finance system supports S&T innovation, summarized the foreign experience of finance system supporting for S&T innovation, explored the current situation of China's finance system supporting for S&T innovation, revealed the restrictive factors of China's finance system supporting for S&T innovation, made an empirical analysis between China's financial support and S&T innovation, and put forward some suggestions about optimizing the finance system supporting for S&T innovation in China. The rest of the paper is structured as follows.
In Chapter One, we demonstrated the background and significance of this paper, summarized the related literature and point out their shortcomings. At last, we presented framework and methods of the paper.
In Chapter Two, from the perspective of evolution, we elaborately described the innovation theory and financial development theory, and summarized some enlightenment for this research.
In Chapter Three, using deductive reasoning method, we demonstrated in detail the capital formation mechanism, risk diversification mechanism, information revelation mechanism and sound incentive constraint mechanism. By these mechanisms, finance system boosts S&T innovation.
In Chapter Four, with the comparison analysis method, we summarized the experiences of finance system promoting S&T innovation in United States, Japan and South Korea and received some useful enlightenment.
In Chapter Five, using statistical interpretation method and normative analysis respectively, we accurately described the current situation and revealed restrictive factors of China's finance system supporting for S&T innovation, which provides guidance that how China's finance system supports S&T innovation.
In Chapter Six, based on the measurement of China's scientific and technological innovation, we established a VAR model about financial support and S&T innovation, then made co-integration test, Granger causality test, impulse response function analysis and variance decomposition, and interpreted these empirical results.
In Chapter Seven, through deductive reasoning and countermeasure research, we presented some suggestions about optimizing China's finance system supporting for scientific and technological innovation.
Finally, we summarized the main conclusions and proposed the further research fields.
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