Research on the Efficiency of Science and Technology Finance and Influencing Factors in the Yangtze River Economic Belt

Abstract

Science and Technology(S&T) finance is the catalyst of economic growth and financial innovation. Based on the input-output panel data of S&T finance in the Yangtze River economic belt from 2015 to 2019, this paper uses the Three-stage DEA model to measure the efficiency of S&T finance in provinces and cities in the Yangtze River economic belt，and Tobit regression model is used to explore the factors affecting the efficiency of S&T finance.The results show that: first, the efficiency level of S&T finance in the Yangtze River economic belt is not high as a whole, and is significantly affected by environmental variables. Second, the main reason for the low efficiency of S&T finance in the Yangtze River economic belt is the low scale efficiency. Third, the efficiency of S&T finance in the Yangtze River economic belt is affected by many factors.Therefore, it is suggested that the government should optimize the investment mode of scientific research funds, promote the scale efficiency of small and medium-sized S&T enterprises, create a good market environment and improve the ability of S&T innovation.