Contribution research of finance on promoting China´s independent innovation

The purpose of this paper is measuring the contribution degree of financial capital and its sub-factors on China´s development of independent innovation from outcome production and transformation these two angles. The method using in the paper is typical recursive model. From the impact of finance on promoting the development of financial innovation and the definition of independent innovation, we established econometric model of factor-contribution degree. And argues that improve the operation level of the financial mercerization and the commercialization rate will help further promote the development of independent innovation.