风险投资、技术创新与经济增长

Venture Capital,Technology Innovation and Growth

风险投资究竟促进了经济增长还是阻碍了经济增长?本文使用包含风险投资和技术创新的内生增长模型模拟风险投资、技术创新与经济增长的关系。通过对2009-2013年中国大陆31个省级行政区(不包括港澳台)的面板数据的实证检验,本文得出结论:风险投资能够通过技术创新渠道影响经济增长,技术创新渠道的水平越高,风险投资对经济增长的促进作用越大。

Is the venture capital good or bad for growth This paper simulates the relationship between venture capital,technology innovation and growth by building up an endogenous growth model including venture capital and technology innovation. We consider a panel data of 2009- 2012 for 31 provinces in China's Mainland( excluding Hong Kong,Macao and Taiwan),and we find that the venture capital affects economic growth through technology innovation channel and the stronger the technology innovation channel is,the greater the effect that the venture capital has on the growth is.