A Research on Role in Promoting Public Finance Investment in Science and Technology for Scientific and Technological Innovation in China

摘要

Scientific and technological innovation has the noncompetitive and non-exclusive features to a large extent, so its characteristic qualities of public goods are very obvious. Therefore when entirely controlled by the market, the scientific and technological innovation could result in market failures, thus it needs the intervention of government to compensate for market imperfections. It builds on making the innovation as the primary productive force of economic growth to bring market mechanism into fully play in allocating resources, and also depends on its characteristics of public goods and the functions of government. Direct financial investment in science and technology is an important component of social science and technology investment. Direct financial investment has played a positive role in enhancing the capacity of China's scientific and technological innovation. At present, China should focus on improving the government's science and technology-oriented policies model of financial investment, further putting the enterprise into the location of main body of scientific and technological innovation, safeguarding the competitiveness of industry or industrial policy, strengthening the norms of financial management system, and continuously improving the efficiency and level of financial investment in science and technology.