Simulation Analysis of Sci-tech Finance Policy Under the Framework of General Equilibrium Construction of a sci-tech credit CGE model and its application in Beijing

摘要

The difficulties in financing of sci-tech enterprises have restricted the development of the enterprises.Consequently,it is necessary to promote the combination of sci-tech and finance,which is also the strategic choice for China to transform its patterns of economic growth and build itself into an innovative country.This paper is the first to attempt to establish the Computable General Equilibrium (CGE) model combined with sci-tech credit of banks to achieve the simulation of sci-tech finance policy in Beijing.The model consists of seven sectors including enterprise,finance,trade etc,whose data base the financial Social Accounting Matrix (SAM) is considering the situation of scitech industrial development in Beijing.Both the model solution and the policy simulation have been performed by GAMS code.The results of simulation show that enhancement of financial supports to scitech enterprises has a positive effect on both sci-tech industry and the whole economy,and contributes to attaining the objectives set forth by China's State Council of expanding domestic demand,promoting economic growth and readjusting industrial structure.