Relationship Between Science and Technology Finance and Economic Growth—Based on VAR Model

Abstract

The development of high technology industry is an vital position of economic growth, and effective financial support is a necessary condition for the development of high technology industry. This paper establishes a VAR model based on the investment in science and technology finance and the output value of high technology industry in Shanghai from 2004 to 2016, and studies the relationship between the development of science and technology finance and economic growth in Shanghai. And then the paper puts forward the prospect of creating the “Shanghai model” of financial support for science and technology innovation to promote the rapid and good growth of Shanghai economy.