摘要
文章基于1995—2017年的各国数据,通过面板固定效应模型、工具变量两阶段最小二乘法、中介效应与调节效应模型,研究金融激励机制在创新引领增长过程中所起到的作用,反映了“金融激励机制-技术水平”匹配程度越高、越有利于经济增长的问题。研究发现这种增长效应有时间阶段特征,在国际金融危机发生之前显著且为正之后不显著;在创新之初,人力、物力、财力的投入表现出对经济增长的挤出的调节效应,而当创新发展到一定的阶段后,金融激励机制能够通过创新渠道间接推动经济增长,得出了强化“金融激励机制-技术水平”匹配度、大力推动技术创新的启示。
Based on the data from the year 1995 to 2017,using models of the fixed effects,the 2sls regression concerning instrum-ents,mediate effects,and moderating effects to study the financial impetus on growth through innovation.It finds that the better matching of financial impetus and technology level,the more beneficial on growth.It shows time phase characteristics,before the world financial crisis,it is significant positive,while after,is negative;In the starting phase of innovation,the labor,capital,and physical inputs have squeezing effects on economic growth,while innovation conducted for a time,financial impetus shows pushing effects on economic growth.It puts forward that strengthening the matching degree of"financial impetus-technology level",conducting innovation with huge support.
作者
蒙昱竹
梁任敏
赵庆
MENG Yu-zhu;LIANG Ren-min;ZHAO Qing(School of Big Data Application and Economics,Guizhou University of Finance and Economics,Guiyang Guizhou 550025,China;Institute of Industrial Economics,China's Social Academic School,Beijing 100010,China;School of Economic,Yunnan University,Kunming Yunnan 650000,China;Business and Management School,Guizhou University of Finance and Economics,Guiyang Guizhou 550025,China)
出处
《技术经济与管理研究》
北大核心
2021年第12期7-11,共5页
Journal of Technical Economics & Management
基金
研究阐释党的十九届五中全会精神国家社会科学基金重大项目(21ZDA023)。
关键词
创新
金融激励
技术水平
调节效应
Innovation
Financial incentives
Technical level
Regulatory effect
