Dynamic Contribution of S&T Public Expenditure to S&T Innovation in China——An Empirical Analysis Based on SVAR Model
基于SVAR模型分析科技公共支出在不同时期对科技创新的动态贡献，发现其对基础研究阶段有显著短期影响，但对成果转化和产业化作用较弱。
ST Public expenditure has different effect on different period of ST innovation. It concerns about dynamic contribution of ST public expenditure on ST innovation in different period based on SVAR. The results of the impulse response function and variance decomposition show that ST public expenditure and ST innovation are positively related,and have a long-term stable relationship; ST public expenditure has a significant effect on ST innovation in basic research period,especially in a short term. The effect of ST public expenditure on the transformation and industrialization of ST achievements is weak. Therefore,the government should construct a stable mechanism,explore the diversified cooperation modes among university and industry,government and bank,government and insurance companies and so on,implement financial compensation and deposit support policy,increase the scale of ST public expenditure in basic research period,and play a significant role on guiding and supporting in ST innovation.