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Based on the panel data of 29 provinces (except Tibet and Hainan)over 2001-2013 period in China, this paper uses threshold panel model to empirical analysis whether they have non-linear and threshold effect between sci-tech finance and sci-tech innovation. The results show that the influence of sci-tech finance on sci-tech innovation in the chinese provinces is not linear, and has obvious threshold effect. Besides, at a relatively low level of economic development, sci-tech finance has a negative impact on the sci-tech innovation. But when economic development to be a certain extent, sci-tech finance would promote sci-tech innovation enhance.

The Threshold Effect of Sci-tech Finance on Sci-tech Innovation--Empirical Analysis for Provincial Panel Data in China