美国政府在风险投资中的作用及对我国的启示——以小企业投资公司(SBIC)为例

The function of American government in venture capital and its enlightenment for our country

我国风险投资起步于上世纪80年代初,虽然形成一定规模,但和美国相比发展速度比较缓慢。究其原因主要源于市场和政府两方面的制约。我国政府主要采用直接出资方式给予风险投资直接扶持,并且扶持方式比较单一。而美国政府主要采用多种方式组合运用在宏观层面上给予风险投资间接扶持。因此我国政府应在借鉴美国政府成功做法基础之上,采用多种间接扶持方式组合运用,从而为风险投资提供一个宽松的政策环境和宏观经济环境。

Our country＇s venture capital was started in the beginning of 1980g. Although it has formed certain dimensions, the development speed is too slow when compared with America＇s. The reason mainly lies in the restriction of the market and the government. Our country government mainly selects the direct investment method to give the venture capital a direct support, while the American government mainly uses many kinds of combination utilization ways to give the venture capital an indirect support on the macroscopic stratification plane. Therefore our country＇s government should learn from the American government and draw upon their diversified indirect supports combination utilization practice, thus creating atmosphere for the venture capital. a loose policy environment and the macroscopic economic