制度变迁、企业家精神与民营经济发展

Institution Evolution,Entrepreneurship and the Development of Private Economy

发展民营经济是推进供给侧结构性改革的重要抓手。本文以江苏为例,分析了民营经济演变、发展的内在机制,认为制度变迁所产生的激励结构变化将诱使企业家精神的配置方向、释放程度发生演变,并通过影响企业的创新行为、创业行为,引领民营经济规模、结构、创新等的塑造与发展。实证研究发现,制度质量的提高、市场化进程的推进对于企业家创新精神、创业精神以及企业家精神向生产性领域的配置程度有显著的促进作用;企业家创新精神、创业精神以及企业家精神向生产性领域的配置程度对于民营经济的规模壮大、创新驱动有明显的促进作用,对于民营经济盈利能力或价值链地位具有负面影响,对于民营经济产业结构存在显著影响,但影响的方向取决于产业平均收益。

The development of private economy is an important aspect of promoting the reform of supply side. But the current situation of private economy in China is getting worse. Since January this year, the investment of private sector has declined dramatically. From January 2016 to May, private investment has only 3.9% year-on- year growth and the risk of recession is gradually increased This paper argues that entrepreneurship is the fundamental force to promote the development of private economy. The regional differences of entrepreneurship lead to the differences of private economy in number and scale, operating efficiency, industrial structure, status in the global value chain, etc. Institutional change is the key factor which causes entrepreneurship evolved. Taking southem part of Jiangsu Province as an example, this paper summarizes the basic characteristics of the development of private economy, including： the scale of private economy is large , the proportion of secondary industry is high, social entrepreneurship is active, the technical innovation ability is strong and so on. This paper analyzes the internal mechanism of the development of private economy, and proposed institution evolution will change the allocation direction and degree of entrepreneurship which will affect the scale, structure and innovation of private economy through innovation and entrepreneurial behavior. Internal mechanism of the development of private economy in the south of Jiangsu also applies in other areas, and the difference only lies in the entrepreneurship which caused by institution and its evolution. In order to verify the development mechanism of private economy, this article uses provincial panel data from 2000 to 2014 for empirical research. Further empirical research found that： First, the improvement of institution quality has a significant positive effect on entrepreneurship and the degree of allocation to production areas. Second, entrepreneurship and the degree of allocation to production areas ： （ 1 ） have a significant positive effect on the scale of private economy and driven by innovation ; （2） have a for negative impact on the profitability of private econom- ic; （3） have a significant impact on industrial structure, but the direction decided by industry average return This paper suggests that private economy in our country represented by Jiangsu should strive to improve in three directions：one is to foster a batch of large enterprises with independent brands; two is to raise the proportion of modern service industry in the private economy and develop producer services; three is to use innovation to pro- mote the development of private economy. So we need to further optimize and improve the institution, mainly includes the following aspects：First, intro- duce and improve the negative inventory management. Greatly reduce the government＇ s direct configuration of re- sources and the management and intervention of micro affairs. Second, encourage corporate merger and acquisi- tions. As soon as possible to eliminate administrative barriers between the local governments, and set up a number of trading on. We platform such as property rights, technology, financial assets, intellectual property rights, environment and so need to promote the improvement of the governance structure and resources integration. Third, establish and perfect the multi-level financial market system. Fourth, form systems of absorbing advanced talents. Eliminate barri- ers to the free flow of talents, and encourage absorbing foreign advanced elements to make up the technology gap by developing reverse outsourcing and overseas mergers and acquisitions or investment. The ultimate goal is to realize product innovation and value chain upgrade.