风险投资、资本项目开放与全要素生产率

发布时间：2018-01-25 20:16

本文关键词： 风险投资资本项目开放全要素生产率非参数协方差矩阵法　出处：《科研管理》2017年04期 　论文类型：期刊论文

【摘要】：基于2003-2012年省级面板数据,利用非参数协方差矩阵估计法,从区域层面考察风险投资、资本项目开放对全要素生产率的影响,研究发现:风险投资与全要素生产率之间存在显著的正相关关系,但不同类型的风险投资对全要素生产率的影响、效率及作用机制存在异质性。其中,外资风险投资主要通过推动技术进步来提高全要素生产率,民营风险投资主要通过改善技术效率来提高全要素生产率,而国有风险投资不能有效的改善全要素生产率。QFLP、RQFLP等资本项目开放政策能够推动技术进步,对全要素生产率有稳定的正向影响,但对风险投资与全要素生产率之间的关系存在负向的调节效应。因此,应审慎推进资本项目开放,并注意优化风险投资结构和空间配置状态。
[Abstract]:Based on the provincial panel data from 2003 to 2012, using the nonparametric covariance matrix estimation method, this paper investigates the impact of venture capital and capital account opening on total factor productivity from the regional level. It is found that there is a significant positive correlation between venture capital and total factor productivity, but different types of venture capital have different effects on total factor productivity, efficiency and mechanism. Foreign venture capital mainly improves total factor productivity by promoting technological progress, private venture capital mainly improves total factor productivity by improving technical efficiency. But the state-owned venture capital can not effectively improve the total factor productivity. QFLPU RQFLP and other capital account opening policies can promote technological progress and have a stable positive impact on total factor productivity. However, there is a negative adjustment effect on the relationship between venture capital and total factor productivity. Therefore, we should advance the opening of capital account prudently, and pay attention to optimizing the structure and spatial allocation of venture capital.
【作者单位】：同济大学经济与管理学院;
【分类号】：F124;F832.48;F832.5
【正文快照】： 1引言随着人口红利消失和刘易斯转折点到来,中国经济发展逐步进入新常态,未来要实现经济可持续增长,必须转变经济增长方式,全面提高全要素生产率[1]。如何改善区域全要素生产率,以创新驱动经济持续增长,已成为普遍关注的问题。风险投资是推动技术创新、经济增长的重要因素。

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