摘要
新常态时期的中国经济,面临着内生冲击与外生冲击的双重威胁,不断提升经济韧性已成为必然选择。同时,中国风险投资经过多年发展已形成地域集聚现象,其对经济韧性将产生什么影响亟需研究。本文基于2006—2018年中国285个地级及以上城市数据,以风险投资驱动创新、助力创业和优化产业结构为机制进行探析。研究发现:风险投资使经济在受到冲击时的恢复力和转型力得到加强,提升本地经济韧性的同时还具备显著的空间溢出效应与区域异质性。
In the new normal period,China’s economy is faced with the dual threats of internal shocks and external shocks,and it has become an inevitable choice to continuously improve economic resilience.At the same time,China’s venture capital has formed a regional agglomeration phenomenon after years of development,and its impact on economic resilience needs to be studied.Based on the data of 285 prefecture-level and above cities in China from 2006 to 2018,this paper explores the impact of venture capital on economic resilience through the mechanism of driving innovation,facilitating entrepreneurship and optimizing industrial structure.The results show that venture capital strengthened the resilience and transformation of the economy in the face of shocks.The improvement of local economic resilience also has significant spatial spillover effect and regional heterogeneity.
出处
《投资研究》
CSSCI
北大核心
2021年第6期23-39,共17页
Review of Investment Studies
基金
国家社会科学基金重大项目“创新驱动战略背景下风投规制化与系统环境构建研究”(19ZDA099)
关键词
风险投资
经济韧性
空间溢出
空间杜宾模型
Venture capital
Economic resilience
Space overflow
Spatial durbin model
