The Flow Of R&D Capital,Aggregation Of Financial Resources And Technological Innovation

With the rapid development of economy and technology,the flow of R&D capital has become more frequent and financial resources have presented a trend of aggregation.Overall,the Chengdu-Chongqing economic circle is the largest in scale in the western region.However,there is an imbalance in development within the circle,with regions that have faster economic development receiving a large amount of R&D capital and financial resources,while other regions with slower economic development lack funding support and resource allocation.Therefore,it is necessary and meaningful to clarify the inherent mechanisms of R&D capital flow,financial resource aggregation,and technological innovation,analyze the real difficulties of R&D capital flow and financial resource aggregation in various regions,and propose new ideas for technological innovation in the Chengdu-Chongqing economic circle.This article deeply explores relevant theories such as capital flow theory,resource aggregation theory,and innovation value chain theory through literature review,analyzes the inherent mechanisms of their influence,and provides an analysis of the development of R&D capital,distribution of financial resources,and overall situation of technological innovation in the Chengdu-Chongqing economic circle.In terms of empirical analysis,firstly,by using the gravity model,the outflow and inflow of R&D capital in the Chengdu-Chongqing economic circle can be calculated.It is found that the cities with the highest inflow of R&D capital are Chengdu and the main urban area of Chongqing,and Mianyang has the second highest inflow after Chengdu.Secondly,the level of financial resource aggregation is measured by location entropy index.Preliminary analysis of the financial resource aggregation level of 34 regions shows that Chengdu and the main urban area of Chongqing have the highest financial aggregation level,and Mianyang also has a weak financial aggregation effect.Finally,the Moran index is used to verify the spatial autocorrelation between R&D capital flow,financial resource aggregation,and technological innovation.After significant correlation is obtained,a spatial Durbin model is established to explore the impact and spatial effects of R&D capital flow and financial resource aggregation on technological innovation in the 34 cities of the Chengdu-Chongqing economic circle.The study draws four conclusions: firstly,the spatial distribution of R&D capital in the Chengdu-Chongqing economic circle is characterized by non-uniformity,and there are significant differences in R&D capital flow among cities.Secondly,inflow of R&D capital can effectively promote regional technological innovation,while outflow of R&D capital does not have a significant impact on technological innovation in the Chengdu-Chongqing economic circle.Thirdly,the aggregation of financial resources can promote the flow of capital and effectively promote technological innovation in the Chengdu-Chongqing economic circle.Fourthly,the results of the spatial Durbin model show that both inflow of R&D capital and aggregation of financial resources can have a positive impact on technological innovation.Based on the previous research,corresponding policy suggestions are proposed: to remove institutional barriers to R&D capital flow,improve infrastructure interconnectivity in the Chengdu-Chongqing economic circle,construct a feasible financial innovation service system,and build a collaborative innovation platform for cities in the Chengdu-Chongqing region.