区域发展视角下的政府引导基金研究进展及展望

A review of government-guided investment fund from the perspective of regional development

政府引导基金现已成为许多国家(或地区)政府普遍使用的一种促进区域发展的政策工具,受到了国内外学者的广泛关注,积累了丰富的研究成果。论文基于区域发展的视角,从政府设立引导基金的原因、政府引导基金的扩散与分布、政府引导基金的运作模式以及政府引导基金对区域发展的影响4个方面对现有研究进行综述。主要发现有:①政府设立引导基金的原因在于缓解融资缺口,实现区域发展目标;②政府引导基金经历了不同地理尺度的扩散,形成了不均衡的空间分布格局;③政府引导基金的运作可以分为募资、投资、管理、退出4个环节,公共资本的参与和政府干预是其区别于一般私人风险投资基金的主要特点;④总体而言,政府引导基金对区域的风险资本供给、创业创新、产业升级有正面影响,但也可能扩大区域发展差距。最后,论文提出地理学要加强区域发展视角下政府引导基金的研究,并指出了未来的研究方向。

The government-guided investment fund,as a policy tool to promote regional development,has been widely used by governments in many countries and regions,which has been widely concerned by scholars.From the perspective of regional development,this article summarized the reasons that the governments use government-guided investment fund,the diffusion and distribution of government-guided investment fund,the operation mode of government-guided investment fund,and the influence of government-guided investment fund on regional development.The main findings of the existing studies are as follows:1)To alleviate the financing gap and achieve regional development goals,governments actively set up government-guided investment fund.2)Government-guided investment fund were diffusing in different geographical scales and forming an unbalanced spatial distribution pattern.3)The operation of government-guided investment fund can be divided into four steps:Raise fund,invest,manage,and withdraw.The main features of government-guided investment fund that are different from private venture capital fund are the participation of public capital and government intervention.4)In general,government-guided investment fund have a positive impact on the supply of regional venture capital,innovation,and industrial upgrading,but may also have widened the regional development gaps.Finally,this article proposes that geographers should strengthen the research on governmentguided investment fund from the perspective of regional development,and points out related research directions.