| Regional innovation system is not only an important component of the national innovation system, and it is an important guarantee for the formation of regional economic development and competitiveness. How to promote the development of regional innovation effectively, became people’s focus. The development of regional innovation not only need basic resources of regional investment, but also need the support of the financial system.The perfect and mature financial system, the effective allocation of financial resources, they can lay a solid foundation for regional innovation. Due to the difference of every area on the policy, environment, and conditions,there is big difference between regional innovation and financial support system. So I use the spatial econometric model to explore effect of financial support to regional innovation in this paper.Firstly, I use the correlation analysis between the global and local space to test the spatial effect of financial support and regional innovation in the paper. The results indicate that there exists space agglomeration effect on provincial innovation and financial support level in China. the formation of agglomeration regions with high levels and high level area, low level regions with low level of regional agglomeration patterns of spatial association and.With the passage of time, the trend of spatial correlation have strengthen. In the local spatial correlation, the eastern coastal areas and Beijing, Tianjin are in a high level, more backward areas in the central and western regions are in a low level.Then, based on the provincial panel data of 2004-2013, I build the spatial panel model to study the influence of financial support on the regional innovation in 30 provinces and cities of mainland China. The results show that there is a significant positive correlation between regional innovations. The direct effects of financial support, R&D personnel input and R&D funds on regional innovation and the direction and extent of spillover effect. Financial support has a positive direct effect and spillover effect, which indicates that financial support not only contributes to the output of regional innovation, but also contributes to the innovation output of the neighboring region. But relative to the spillover effect of innovation output of the surrounding areas, financial support is more conducive to promote the production of innovative activities in the region. R&D and human resource investment play a positive role in regional innovation. And the contribution of human resource is greater than the contribution of R&D investment. But there is variation in spillover effects of R&D investment and human resource input to adjacent area. R&D investment play a negative role in promoting innovation output of adjacent areas, and human resource input play a positive role in promoting innovation output of adjacent areas. |
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