广东省科技创新与金融市场动态关系测算研究

Research on the Dynamic Relationship between Science and Technology Innovation and Financial Market in Guangdong Province

摘要:

摘要：基于2001- 2012年时间序列数据，本文采用协整模型检验了广东省科技创新与金融市场之间的长期均衡关系，在此基础上进行了格兰杰检验，并利用脉冲响应函数测算了二者在外部因素冲击下的动态响应态势。研究结果表明，广东省科技创新与金融市场之间存在着长期协整关系，广东省金融市场发展是其科技创新的格兰杰原因，而广东省科技创新并非金融市场发展的格兰杰原因。当金融市场受到一个正向冲击后，科技创新会产生较为显著的反应，而当科技创新受到一个正向冲击后，金融市场没有显著的变化。

关键词:广东省;科技创新;金融市场;动态关系

Abstract:

Abstract: Based on the time series data from 2001 to 2012， this paper uses the cointegration model to test the long-term equilibrium relationship between science and technology innovation and financial market in Guangdong Province. on the basis of this we conduct Granger causality test to explore the relationship between the two， and then use the pulse response function to measure dynamic response situation of science and technology innovation and financial market under the impact of external factors， respectively. Results show that there exists a long-term cointegration relationship between science and technology innovation and financial market in Guangdong Province，and the development of financial market in Guangdong Province is the Granger cause of the scientific and technological innovation， On the contrary， it does not hold.When the financial market is subjected to a positive impact， science and technology innovation will produce a more significant response， and when science and technology innovation is a positive impact， the financial market has no significant change.

Key words:Guangdong province;Science and technology innovation;financial market;dynamic relationship