粤港澳大湾区科技金融耦合度及其影响因素研究

科技创新与金融生态的紧密结合是社会经济取得高质量发展的重要基础和先决条件。粤港澳大湾区作为国家发展战略高地以及经济活力较高的区域之一,在推动科技创新、金融发展和产业融合方面已经取得了一定的成效。本文基于粤港澳大湾区各城市2009—2018年科技创新与金融发展的面板数据,通过测度粤港澳大湾区科技金融耦合协调度,并分析科技金融耦合协调发展的影响因素以及空间溢出效应。研究结果表明：粤港澳大湾区的公共科技金融和市场科技金融呈现了较快的发展态势,公共科技金融投入力度持续增大,市场科技金融形式不断创新,制度日趋完善;粤港澳大湾区各城市的科技金融耦合协调度呈现逐年优化趋势,但区域间仍存在明显的空间差异性;科技金融耦合协调度受到政府科技投入、金融效率、高新技术发展等因素的正向影响,但广东省及香港特别行政区内科技金融耦合协调度的空间溢出效应并不明显。最后,研究从政府机构、金融机构、科技型企业、科技金融服务部门等角度提出了政策建议。

A study on the coupling degree of sci-tech finance and its influencing factors in the Guangdong-Hong Kong-Macao Greater Bay Area

The combination of technological innovation and financial ecology is an important foundation and prerequisite for high-quality social and economic development. As one of the national development strategic highlands and one of the regions with high economic vitality, the Guangdong-Hong Kong-Macao Greater Bay Area has made achievements in promoting scientific-technological innovation, financial development and industrial integration. Based on the panel data of scientific-technological innovation and financial development of cities in the Greater Bay Area from 2009 to 2018, we constructed the evaluation system of scientific and technological innovation and financial development, and measured the coupling degree of sci-tech finance in the area, and analyzed its influencing factors by adopting the panel model regression with the consideration of government investment in science and technology, financial efficiency and scale of high-tech enterprises and so on, and used the Moran's I index of coupling coordination degree of technology and finance to estimate the space spillover effects in the study area. The results indicate that the public technology finance and market technology finance in the Greater Bay Area have shown a rapid development trend. The investment in public technology finance continues to increase, and market technology finance forms are constantly innovating, and the institutional system is becoming perfect. The sci-tech finance coupling degree of cities in the area shows a trend of optimization with the leap of “severe disorder-moderate disorder-almost disorder” year by year, while there are some significant spatial differences among regions, especially for the cities of Shenzhen, Guangzhou and Hong Kong with the highest degree of coupling coordination and the cities of Zhuhai, Huizhou, Jiangmen with moderate disorder. The sci-tech finance coupling degree is positively affected by factors such as government investment in science and technology, financial efficiency, and high-tech development. However, the spatial spillover effect of the coupling degree of sci-tech finance in Guangdong province and Hong Kong is not obvious. Finally, we put forward some policy recommendations from the perspectives of government agencies, financial institutions, scientific and technological enterprises, and technology-finance service departments, in order to build the Greater Bay Area into a global international scientific and technological innovation center.