基于功效函数的金融–科技创新耦合协同度测度

Measurement of the Coupling Coordination Degree between Finance and Technology Innovation Based on the Efficacy Function

摘要: 为进一步揭示金融创新与科技创新协同发展的内在机制，文章基于功效函数构建了金融创新与科技创新的耦合模型及耦合协调度模型，并基于2014~2023年全国数据开展实证测度。研究表明，全国科技创新–金融创新耦合系统经历了低水平耦合、初步协调和磨合三个阶段，协同水平稳步提升，反映出国家创新驱动发展战略和科技金融政策实施成效显著。实证结果同时表明，金融创新在耦合系统中的贡献整体高于科技创新，反映出科技对金融的反向支撑能力仍有待加强。应进一步强化科技与金融双向赋能机制，完善政策协同与系统融合，为推动“科技–金融–产业”良性循环、实现高水平科技自立自强提供体系化支撑。

Abstract: To further reveal the internal mechanism of the synergistic development of financial innovation and technological innovation, this paper constructs a coupling model and a coupling coordination degree model between financial innovation and technological innovation based on the efficacy function, and conducts an empirical measurement using national data from 2014 to 2023. The research shows that the national technological innovation-financial innovation coupling system has undergone three stages: low-level coupling, antagonism, and break-in period, with the coordination level steadily improving. This reflects the significant effectiveness of the implementation of the national innovation-driven development strategy and science and technology finance policies. The empirical results also indicate that the contribution of financial innovation to the coupling system is generally higher than that of technological innovation, suggesting that the reverse support capacity of technology for finance still needs to be strengthened. It is necessary to further enhance the two-way enabling mechanism between technology and finance, improve policy coordination and system integration, and provide systematic support for promoting a virtuous cycle of “technology-finance-industry” and achieving high-level technological self-reliance and self-improvement.