政府科技投入、资本扭曲与“科技-金融”耦合系统效率——基于市场化程度的有调节中介模型

Government Spending on Science and Technology, Capital Distortion, and "Technology-Finance" Coupling System Efficiency——A Moderated Mediation Model

摘要:

本文以中国30个省（自治区、直辖市）面板数据为研究样本，基于非期望产出超效率SBM模型测算了各省“科技-金融”耦合系统效率，重点研究政府科技投入对耦合效率的影响，资本扭曲在其中发挥的中介作用以及市场化程度的调节作用。结果表明：政府科技投入与耦合效率之间的存在倒“U型”影响关系；政府科技投入能够缓解资本扭曲提升耦合效率；随着市场化程度的提升，在直接路径中，政府科技投入对耦合效率的促进作用减弱，在中介过程的后半路径中，资本扭曲对耦合效率的抑制作用减弱。

Abstract:

Taking the panel data of 30 provinces (autonomous regions and municipalities) in China as research samples, based on unexpected output super-efficiency SBM model, the "technology-finance" coupling system efficiency in each province is calculated, focusing on the impact of government spending on science and technology on coupling efficiency, the mediating role of capital distortion and the moderating role of marketization degree. The results show that: there is an inverted "U-shaped" influence relationship between government spending on science and technology and coupling efficiency; government spending on science and technology can alleviate capital distortion to improve coupling efficiency; with the promotion of marketization degree, in the direct path, the promotion of government spending on science and technology on coupling efficiency is weakened; In the second half of the mediation process, the inhibition of capital distortion on the coupling efficiency decreases.