Research on the Interaction between Finance and Innovation Factors of Technological Industry in China
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DOI: 10.25236/icess.2019.058
Author(s)
Zhangli Zhu and Ye Yang
Corresponding Author
Zhangli Zhu
Abstract
Finance and technology are the two major driving forces of national economic development [1]. While the research on the interaction mechanism between sci-tech finance and the elements of sci-tech innovation is still at a blank stage[2].In this paper, we first constructs a basic time series model, and then adopts econometric methods like cointegration test and Granger causality test to analyze the relationship between sci-tech finance and sci-tech innovation The test results show that the development of sci-tech finance can promote the progress of sci-tech innovation in China, but the effect is not obvious or significant enough. Finally, this study proposes the development strategies of sci-tech finance and sci-tech innovation in China
Keywords
Sci-tech Innovation, Sci-tech Finance, Interactive development, Granger causality test