Research into the Efficiency of the Contribution of Capital Market to Technology Innovation ——Taking the Western Region as an Example
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Abstract By using Malmquist index, the authors measured the total factor productivity about capital market supporting technological innovation, the change index of technical efficiency and the index of technical progress rate in 12 provinces and cities in the western region of our country, compared and analyzed the efficiency level of capital market promoting technological innovation in each province and city in the western region. By establishing regression equation with the panel data about the patent and capital market financing in 12 provinces and cities and testing them, the authors found that provincial capital market efficiency in promoting local innovation is not balanced and the total factor productivities of capital market financing to technological innovation are higher in areas with better capital market development,greater innovation potential and higher demand.
. Research into the Efficiency of the Contribution of Capital Market to Technology Innovation ——Taking the Western Region as an Example. Economic Survey, 2011, 28(5): 028.
2011, Vol. 28 
