Research on the Innovation-Driven Effect of Fiscal Expenditure on Science and Technology in the Beijing-Tianjin-Hebei Region from the Perspective of Sustainable Development
The construction of the Beijing (Beijing-Tianjin-Hebei) International Science and Technology Innovation Center is an important national strategic deployment. As a core policy tool to drive regional innovation, the effectiveness of fiscal expenditure on science and technology directly determines the development level of collaborative innovation in the Beijing-Tianjin-Hebei region. Taking the panel data of Beijing, Tianjin, and Hebei from 2008 to 2024 as samples, this paper empirically tests the impact of fiscal expenditure on science and technology on regional innovation capability and its heterogeneity by using the two-way fixed effect model of panel-corrected standard errors (PCSE) . It further verifies the reliability of the conclusion through multi-dimensional robustness tests, endogeneity treatment and placebo tests. The results show that: In the Beijing-Tianjin-Hebei region, the fiscal expenditure on science and technology has an obvious and positive driving effect on the improvement of the innovation capability; this effect was significantly enhanced after the official implementation of the Outline of the Coordinated Development Plan for the Beijing-Tianjin-Hebei Region in 2015, and the driving effect in Beijing and Hebei was significantly stronger than that in Tianjin. This paper enriches the relevant research on fiscal innovation policies under the background of regional synergy, and provides an empirical basis for the construction of the Beijing- Tianjin-Hebei Science and Technology Innovation Center and the formulation of precise fiscal policies.