金融科技、科技金融与区域研发创新

基于2012-2018年中国省际面板数据，实证分析统一框架下金融科技、科技金融与区域研发创新之间的关系，结果发现：金融科技和科技金融对区域研发创新效率提升有促进作用，其中金融科技通过金融资源配置效率的中介作用影响区域研发创新，科技金融通过资本回报率影响区域创新研发；金融科技的提升作用更侧重于研发产出和成果转化阶段，并随着创新流程的深入不断上升，而科技金融更聚焦于研发投入，并在研发产出阶段展现了一定抑制作用；金融科技和科技金融的交互效应对全国和东部地区的创新发展具有积极影响，而对中、西地区的影响不显著。

Fintech, Techfin and Regional R&D Innovation

Based on China''s inter-provincial panel data from 2012 to 2018, his paper empirically analyzes the relationship between financial technology, technology finance, and regional R&D innovation. The results of the study found that: financial technology and technology finance promote the efficiency of regional R&D innovation, and financial technology influences regional R&D through the intermediary effect of financial resource allocation efficiency innovation, technology finance influences regional innovation R&D through the return on capital. Secondly, the enhancement of financial technology focuses more on the R&D output and commercialization stage, and continues to rise with the deepening of the innovation process. While the technology finance focuses more on R&D investment and shows a certain inhibitve effect in the R&D output stage. In addition, the interactive effects of financial technology and technology finance have a positive impact on the innovation and development of China as a whole and the eastern region, while the impact on the central and western regions is not significant.