腐败与大众创业的非线性关系研究——基于金融发展门限模型的经验证据

Study on the Nonlinear Relationship between Corruption and Public Entrepreneurship——Evidence from Financial Development Threshold Model

本文基于我国1999—2011年的省级面板数据,以金融发展为门限变量,构建Hansen门限模型,探讨腐败与大众创业之间的非线性关系。研究表明:腐败程度提高对创业活动会产生显著的抑制作用,且存在金融发展的双重门限效应。在低水平金融发展区制中,腐败对创业的负效应十分显著,但随着金融发展水平的提升,这种负效应显著减小甚至不明显。在不同的创业形式中,公司制比个体户需要更高的金融发展门限值才能弱化腐败对创业的负效应。进一步的区域分析结果显示,相比东部地区,中西部地区的金融发展门限值更高。根据金融发展有利于弱化腐败对创业负向效应的结论,为推动大众创业,政府坚持做好反腐工作的同时,还应加强区域金融发展水平的协同共进。

Based on China's 31 province-level panel data from 1999 to 2011,setting financial development as the threshold variable and constructing the Hansen threshold model,this paper investigates the nonlinear relationship between corruption and entrepreneurship in China. The results indicate that corruption has a negative impact on entrepreneurship and there exists double financial development threshold effect. The negative effect of corruption on entrepreneurship is very significant when the financial development belongs to low-level zone,and then with the upgrading of financial development level,the negative effect is considerably reduced or even not obvious.Comparing different forms of entrepreneurship,we find the company system needs a higher level of threshold to weaken the negative effect than the self-employed. The further regional analysis shows the threshold value of financial development is higher in Mid-west region of China than the eastern. This paper gives the conclusion that financial development is benefit to weaken the negative effects of corruption impacting on entrepreneurial.