Efficiency Analysis Of Science And Technology Finance Based On DEA-Tobit Model

The Fourteenth Five-Year Plan for National Economic and Social Development issued by my country in 2020 clearly stated that by 2025,my country should cultivate the financial industry into a driving force for regional economic development,and effectively improve the efficiency and efficiency of financial services for the real economy.The ability of economic transformation and development.As my country’s economy has entered a new normal,technological innovation has become the driving force for high-quality economic development.The smooth development of various scientific and technological activities is inseparable from a large amount of capital investment,and the deep integration of technology and finance is the help of high-quality economic development.Propellant,under the development pattern of domestic and foreign dual circulation,the development of urban agglomerations and metropolitan circles are placed in a higher position,and the economic development achievements of some regions in my country are outstanding,which has played a positive radiation effect on the surrounding areas.Therefore,under the national urban agglomeration development strategy,how to improve the technological and financial development level of urban agglomerations,promote the coordinated development of various regions,and thus expand the space for economic growth,are all propositions worthy of in-depth discussion.This paper takes 47 coastal cities in the three major urban agglomerations of the Yangtze River Delta,the Pearl River Delta and the Beijing-Tianjin-Hebei as the research objects to measure and analyze the efficiency of science and technology finance.This paper mainly analyzes the following aspects: First,the DEA-BCC model and the DEA-Malmquist index decomposition model are used to measure the efficiency of science and technology finance in these 47 cities in my country from 2010 to 2019,both statically and dynamically.The 47 cities are classified according to certain classification standards,and the three urban agglomerations are compared horizontally to understand the development level of science and technology finance in each urban agglomeration.Secondly,by drawing the kernel density map and the spatial distribution map of the efficiency of science and technology finance,it analyzes the time evolution trend and dynamic changes of the efficiency of science and technology finance in the three urban agglomerations.the source of its differences.Finally,the Tobit model is used to empirically test the influencing factors and functions of the efficiency of science and technology finance in three urban agglomerations.The following conclusions are drawn:(1)From 2010 to 2019,the development foundation of science and technology finance in the Pearl River Delta region is relatively stable,the efficiency level of science and technology finance is relatively stable,and the overall level is in a leading position;the efficiency level of science and technology finance in the Beijing-Tianjin-Hebei region fluctuates less;During the sample period,the development level of science and technology finance in the Yangtze River Delta region was the lowest,but the efficiency value of science and technology finance in the sample period rose steadily,and the comprehensive efficiency value caught up with the other two places at the end of the sample period.(2)The core density map of the three urban agglomerations in the sample period shows that the width of the main peaks all show a narrowing trend,reflecting that the absolute gap in the efficiency of science and technology and finance among the three urban agglomerations during the sample period is decreasing year by year,and the overall trend is converging.In addition,the three major urban agglomerations all have multi-polarization trends.The Yangtze River Delta region has the most obvious polarization characteristics,followed by the Pearl River Delta region,and the Beijing-Tianjin-Hebei region has the weakest polarization characteristics.(3)The efficiency level of science and technology finance in the southeastern cities of the Yangtze River Delta region is relatively high,and the level of science and technology finance in Jiangsu Province and Zhejiang Province is generally higher than that in Anhui Province;the central cities in the Pearl River Delta region have a higher level of science and technology finance;the Beijing-Tianjin-Hebei region has a higher level of technology finance.The central cities in the north-south direction have a relatively high level of science and technology finance.Overall,the average efficiency of science and technology finance in the region ranks the highest in Beijing,followed by Tianjin,and the lowest in Hebei.(4)During the sample period,the overall Gini coefficient of the three major urban agglomerations dropped significantly,and the connections within the three major urban agglomerations and between the two urban agglomerations became more and more close.(5)The overall regression results of the three major urban agglomerations show that there is a significant positive correlation between the degree of financial market development,the level of regional innovation,human capital and the efficiency of science and technology finance;There is a significant negative correlation.Regression was performed on the three urban agglomerations respectively,and it was found that the same influencing factors had different influences on the efficiency of science and technology finance in different urban agglomerations,but the correlation between the influencing factors and the efficiency of science and technology finance through the significance level test in each city was consistent with the overall regression results.Based on the above research conclusions,this paper puts forward four suggestions:(1)Speed up the establishment of a credit platform and cultivate "technology + finance" compound talents.(2)Introduce technical talents and cultivate the main body of innovative enterprises.(3)Explore innovative investment methods and allocate resources according to local conditions.(4)Build an information sharing mechanism and establish a regional coordinated development strategy.The research in this paper provides an empirical basis for the three major urban agglomerations to find constraints and deficiencies,narrow regional differences,and rationally optimize resource allocation based on their own development conditions.