SCIENCE AND TECHNOLOGY INNOVATION EFFICIENCY IN GUANGDONG, HONG KONG AND MACAO GREATER BAY AREA BASED ON STATIC AND DYNAMIC DEA

In the context of the integration of science, technology, and finance, this study aims to scientifically assess the efficiency of science and technology innovation in the Guangdong-Hong Kong-Macao Greater Bay Area. To this end, a system of evaluation indexes, encompassing input-output dimensions, has been constructed based on panel data from 11 cities in the Greater Bay Area from 2019 to 2024. The DEA-Malmquist index method has been utilized in the construction of this system. The regional science and technology innovation efficiency is measured with precision through static efficiency measurement and dynamic total factor productivity decomposition. The reasons for the efficiency differences are revealed from the perspective of technological progress and efficiency changes. The findings of the study demonstrate that (1) the average value of the comprehensive efficiency of science and technology innovation in the Guangdong-Hong Kong-Macao Greater Bay Area exhibits fluctuations and increases, and (2) there are discrepancies in the magnitude of the fluctuations in the efficiency of science and technology innovation and the factors influencing it across different cities. (3) Considering the issue of the Guangdong-Hong Kong-Macao Greater Bay Area's high overall innovation efficiency, coupled with significant internal disparities, there is a compelling need to optimize resource allocation in a targeted manner.