The Analysis of Government's Role in the Development of Scientific and Technological Finance: Illustrated by the Case of liaoning Province

Abstract

The development of sci-tech finance is largely dependent on the participation and support of the government, for it effectively supplements the insufficient by the invisible hand which includes the externalities of science and technology innovation and financial market failure, etc. Thereby, the government plays a Leading role in the process of enterprise independent innovation. The government’s effects are composed of policies support, investment guide, market system construction and perfect the related law. At this stage, the government should play an important role in innovating the way of fiscal expenditure on science and technology and perfecting implementation of the preferential tax policy.