Search

The cultural diversity brought by migrants has attracted widespread interest in recent years. This paper investigates the relationship between migrant cultural diversity and regional innovation by constructing panel data of provincial migrant cultural diversity and combining them with invention applications data from China's State Intellectual Property Office. The empirical results show that the migrant cultural diversity, measured by migrant's hukou and dialect respectively, has a positive impact on regional innovation. The effect still holds after a series of robustness tests and addressing endogeneity issues. Furthermore, the further analysis implies that the effects of the migrant cultural diversity in workers aged from 30 to 50, engaged in an innovative occupation, working in high market‐competitiveness or inclusive provinces are more pronounced. Our study supplements the current research on the relationship between migrant cultural diversity and regional innovation. [ABSTRACT FROM AUTHOR]

Due to externalities and market failure, innovation activities are facing insufficient investment. Venture capital guidance funds (VCGFs) are an important policy implemented by China's government to guide private capital to participate in innovation and entrepreneurship activities, and it can have an important impact on scientific and technological innovation. Based on the panel data of 285 cities in China, this paper empirically analyzed the impact of VCGFs on innovation and its mechanism. VCGFs can significantly promote urban innovation and this role is sustained for three years following VCGF establishment. Further research shows that VCGFs do not have a direct impact on innovation but promote innovation by promoting the accumulation of innovative talent and capital, and the capital accumulation effect of VCGFs is the main path through which they promote urban innovation. Corruption is also a factor that restricts the effectiveness of an innovation policy. Thus, China's top‐down anticorruption campaigns can strengthen the ability of VCGFs to promote urban innovation. This paper opens the black box to show the mechanism through which VCGFs impact urban innovation, affirms the important role of the government in the regional innovation system, and clarifies the debate on government innovation policy. [ABSTRACT FROM AUTHOR]

As the core element of technological innovation, financial resources can play the role of financial support, risk sharing, service guidance, and other aspects, thereby enhancing the efficiency of sci‐tech innovation (STIE). Whether there is a complex nonlinear economic threshold effect of financial development (FD) on STIE in different regional context is worth further discussion. This paper selects the Yangtze River Economic Belt (YREB) of China as the research object, based on the panel data of 110 cities, uses the Hansen threshold model to test the nonlinear "economic threshold effect" of FD on STIE. The results show that under different development scenarios in different regions, FD has a nonlinear "economic threshold effect" on STIE. This study extends the research sample to the cities of river basin, and elucidating the importance of regional context to the nonlinear "economic threshold effect" of FD on STIE further proposes that the sole focus of promoting the quantity of technology innovation by taking advantage of FD do not guarantee a positive effect on the development of STIE. Instead, the diverse, multiple financial policy instruments and stimulating the driving force of FD should be adopted towards the improvement of STIE in a phased and context specific manner. [ABSTRACT FROM AUTHOR]