A Study on the Incentive Effect and Transmission Mechanism of Fiscal Decentralization on the Activity of Regional Innovation
HU Lina1, XUE Yang2
1. Chinese Academy of Financial Sciences, Beijing, 100142, China; 2. School of Economics and Management, Inner Mongolia University of Technology, Hohhot 010051, China
Abstract：
Based on the panel data of 31 provinces in China from 2000 to 2017, this paper uses the systematic GMM method to empirically analyze the impact of fiscal decentralization on regional innovation activity and its mechanism.There are following findings: (1) Fiscal decentralization has a significantly positive and incentive effect on the activity of regional innovation, and can promote the improvement of regional innovation activity. The greater the degree of fiscal decentralization is, the stronger the activity of regional innovation will be. (2) Fiscal decentralization has a significantly positive and incentive effect on fiscal science and technology expenditures, and fiscal science and technology expenditures also have a significantly positive and incentive impact on regional innovation activity. Fiscal decentralization indirectly affects regional innovation activity by affecting fiscal science and technology expenditures, that is, there is an intermediary effect in fiscal science and technology expenditures. (3) After controlling the fiscal science and technology expenditures, the impact of fiscal decentralization on regional innovation activity is still significantly positive. The financial science and technology expenditures are also significantly positive, and the fiscal science and technology expenditures are part of the intermediary variables. On the basis of the above results, the authors think that the activity of regional scientific and technological innovation should be strengthened from the aspects of perfecting the design of fiscal decentralization system, improving the performance evaluation mechanism of local financial science and technology expenditure, and reforming the structure of scientific and technological innovation expenditure.
HU Lina1, XUE Yang2.A Study on the Incentive Effect and Transmission Mechanism of Fiscal Decentralization on the Activity of Regional Innovation[J] Economic Survey, 2021,V38(2): 14-22
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