Analyse The Influence Of Financial Science And Technology Investment On Technological Progress Of Jiangsu Province

Along with economic development entering into the "new normal",our country clearly put the innovation-driven development strategy as the first national development strategy in the“11th five-year”plan.As the "soil" of scientific and technological innovation,the technology investment is undoubtedly an important component,and the government is playing an important role in the financial technology investment.Since the financial science and technology investment system in China is not quite mature,there are many obvious problems in the way of financial input.Therefore,through the empirical calculation of how much the government investment in science and technology makes contribution to technological progress,and the analysis of the main factors affecting technological progress,we can further evaluate the way the governmental investment in science and technology and find a perfect system,which is an important research subject.Based on the background above,this article regards the present situation of financial investment in science and technology and the technological progress of Jiangsu Province as the starting point of research,and considers the influence of financial science and technology investment on technological progress of Jiangsu Province as the main research purpose.In theory,this paper explores the theoretical basis and the basic connotation of science and technology investment's impact on the scientific and technological innovation and technological progress.Based on these above,introducing the function mechanism of the relationship between science and technology investment and technological progress,and analysing the importance of the government participates in the activities of science and technology.On the basis of the theory,by collecting the relevant data of financial investment in science and technology of the various cities in Jiangsu Province,this article uses Cobb-Douglas function to calculate every city's total factor productivity — —technological progress index.Then go on the decomposition of the Tel exponent,with Jiangsu Province being devided into three areas such as Southern Jiangsu,Middle Jiangsu and Nouthern Jiangsu.We analyse the intraregional and interlocal differences in technological progress,the results show that the transverse inequality of urban technological progress rate mainly comes from the inequality between regions;The inequal degree of technological progress in Northern Jiangsu is highest.This article selects total factor productivity — — technological progress indexis as explained variable,and selects technology input(human input and financial input)as explanatory variables which are the factors affecting technological progress,selects information environment,human resource basis,economic growth and structural optimization as control variables which are the main factors affecting technological progress.The Stata12 is used to regress these datas,and analyse the impacts of financial science and technology investment on technological progress in Jiangsu,the results show that the intensity of technological personnel input,the scale of financial science and technology investment and the enterprise R&D input respectively have a significantly positive relationship with technological progress;the scal of technological personnel investment have a significantly negative relationship with technological progress.According to above analysis,technological personnel investment?the regional difference of financial investment in science and technology?financial science and technology investment and enterprise R&D input affect the process of technical progress of Jiangsu Province.Consequently,relative measures are proposed: encouraging the activities of technological personnel investment;supporting the cultivation of innovative talents;balancing regional science and technology investment and promoting intensity of science and technology investment in Northern Jiangsu;improving government subsidies and perfecting supervision mechanism;improving the management and use of special financial funds for science and technology;Increasing the preferential margin of the initial period enterprise policy;reducing the threshold of the new technology enterprise;improving tax policy during the implementation period of research and development.