关键词: 财税政策, 财政科技支出, 现代化产业体系, 新质生产力

Abstract: The development of new quality productivity is the inherent requirement and important support for promoting high-quality development, in which financial expenditure on science and technology plays a key role. Based on the panel data of 258 cities in China from 2010 to 2022, this paper empirically analyzes the impact of financial S&T expenditures on the development of new quality productivity and its mechanism. It is found that financial S&T expenditures can significantly enhance the development level of new quality productivity. The mechanism analysis reveals that financial expenditure on science and technology can promote the development of new productivity through promoting the deep transformation of traditional industries, leading the development of strategic emerging industries and future industries, and optimizing the industrial structure. The heterogeneity analysis reveals that the promotion effect of fiscal S&T expenditures on new quality productivity is more significant when the scale of the cities is larger, the urbanization and marketization levels are higher, and the business credit environment is better. While this promotion effect is more obvious in regions with less fiscal pressure, greater promotion assessment pressure and larger fiscal decentralization. Therefore, we should continue to increase financial investment in science and technology to strengthen the scientific and technological support for the development of new productive forces, improve the industry innovation effect of financial expenditure on science and technology to speed up the construction of a modernized industrial system, and implement a strategy of regionally differentiated financial expenditure on science and technology to promote the development of new productive forces tailored to the local conditions.

Key words: fiscal and tax policies, fiscal S&T expenditure, modernized industrial system, new quality productivity