Research On The Measurement And Convergence Trend Of The Coupling Development Level Between Sci-Tech Finance And High-Tech Industry Innovation

In the process of high-quality economic development,innovation drive is very important.The deep integration of science and technology and finance can provide financial support for the development of high-tech industries.Only when the level of innovation and development of science and technology finance is synchronised with that of high-tech industries can we maximise the most efficient use of resources and achieve precise drip-feeding.However,the role of science and technology finance in promoting high-tech industries should not only be "unilateral blood transfusion",but also high-tech industries should feed the financial industry to form a good cycle,so as to promote the optimal allocation of resources and high-quality development,which is also the significance of this paper.This paper establishes a research framework based on a review of the literature on science and technology finance and the high-tech industry.The coupling and coordination mechanism of the dual complex subsystems of science and technology finance and innovation development of high-tech industries is systematically analysed at the theoretical level.Based on the theoretical analysis,an evaluation index system for the innovation development level of science and technology finance and high-tech industry is constructed,measured using the entropy weight method,and its spatio-temporal variation characteristics are described.The results find that: the development of science and technology finance in various regions of China is good,and the development level shows a fluctuating upward trend,with a spatial trend of decreasing from coastal to inland,and there are differences;the overall development of high-tech industry innovation in China The overall level of innovation development of China’s high-tech industries shows a fluctuating upward trend,with significant differences between regions,and is basically consistent with the distribution characteristics of science and technology finance.By constructing a coupling coordination model,measuring the level of coupling coordination between science and technology finance and high-tech industry innovation development and analyzing its spatial and temporal leap characteristics,the study shows that: the growth trend of coupling coordination between China’s science and technology finance and high-tech industry innovation development system is consistent with its own development trend,showing an overall upward trend,and basically realizing the transformation from a dysfunctional decline zone to a coordinated transition zone,with a significant positive Spatial autocorrelation.On the basis of verifying the existence of spatial correlation,the evolutionary trends of the coupling coordination degree were tested by constructing spatial convergence,traditional and spatial beta convergence and spatial convergence models respectively,and the study found that: there are significant trends of absolute beta convergence and conditional beta convergence for the coupling coordination degree of science and technology finance and high-tech industrial innovation development at the national level,as well as significant spatial convergence,i.e.eventually converging to the same steady-state level,and the gap between regions gradually decreases,and there is a radiating influence relationship between the coupling coordination degree in the adjacent regions;the level of infrastructure has a significant negative influence on the coupling coordination degree at the national level,while the level of education has a significant positive effect.Heterogeneity analysis was conducted from the three regions of East,West and Central Asia,and the results show that there is also a significant trend of beta convergence in the three regions,with the eastern region converging more slowly and the central and western regions converging more quickly,indicating that regions with low levels of coupling coordination have a faster tendency to catch up,and the coupling coordination degree between regions tends to converge towards the steady state level.As for the control variables,due to the differences in geographical location,factor endowment and economic development level,the impact of each exogenous factor on the improvement of coupling coordination varies from region to region,and each region should formulate its own development strategy according to local conditions and its own reality.The robustness of the results was verified by four robustness tests: replacing the weight matrix,adjusting the sample period,excluding special samples and replacing the variable measures.Combined with the above findings,this paper provides targeted synergistic development countermeasures based on the actual development of science and technology finance and high-tech industries in China,with a view to bringing reference to the coordinated development of China,promoting a deeper integration of science and technology and finance,and enhancing the promotion and feedbacks between science and technology finance and the innovation and development of hightech industries,with It is of great theoretical significance and practical value.