通过分析金融对科技创新的服务路径,从研发投入、成果转化、产业产出3个阶段建立变参数状态空间模型,分析金融服务科技创新的有效程度. 研究结果表明:政府性金融服务科技创新的有效性具有上升趋势,侧重在研发投入、成果转化阶段的支持;金融信贷服务科技创新的有效性具有阶段性变化,侧重在产业产出阶段的支持;资本市场服务科技创新的有效性稳定增加,在科技创新三个阶段的支持较为平衡.%Based on the analysis of the path that financing serves technology innovation, the paper researches the effectiveness that financing serves technology innovation,by constructing the state space model with varying parameters including three stages which are research and development investment, achievement transformation, and industrial output. The results show that:the effectiveness that the governmental financing serves technology innovation presents a rising trend,focusing on the supporting R&D investment and the achievement transformation. Then,the effectiveness that financial credit serves technology innovation shows periodic changes, focusing on supporting the industrial output. Besides,the effectiveness that the capital markets serve technology innovation presents steadily increasing trend, and capital markets' supports of the three stages seem to be balanced.
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