中文摘要：

本文基于2000-2013年中国制造业数据,运用面板回归分析方法,从企业R＆D投入和创新产出两个方面,研究了政府直接R＆D资助和间接R＆D资助对企业技术创新的影响。研究发现金融信贷能够增强政府R＆D资助效果;政府直接R＆D资助和间接R＆D资助均能促进技术创新,但效果不同;政府R＆D资助对不同规模和不同R＆D资金存量的企业效果不同,对行业技术水平没有差异性。对此,本文提出政策建议：改善金融信贷环境提升政府直接R＆D资助效果;政府R＆D资助应具有针对性;政府间接资助与直接资助应协调并用。

英文摘要：

Based on the statistical data of Chinese manufacturing industry from 2000 to 2013, this paper employs methods of panel data regression analysis to research the impact of direct government R＆D subsidy and indirect government R＆D subsidy on technological inno- vation. The results show that direct government R＆D subsidy and indirect government R＆D subsidy have a significantly positive effect on technological innovation. Financial credit and firm size have a significantly positive moderating effect, while industry technical level has no significantly moderating effect, regardless of promoting direct government R＆D subsidy or indirect government R＆D subsidy. This pa- per suggests that the financial credit environment should be improved for the government R＆D subsidies to play a better role, the govern- ment should aim at specific enterprises when providing subsidies, and both direct and indirect government R＆D subsidies should be used for technological innovation.