摘要
改革开放40年来,我国创业投资行业经历了政府主导的尝试初期、实践中曲折前行的探索期和多方共筑走向扩张的爆发期,逐渐进入理性发展的双创时代,创业投资在经济发展中起到越来越重要的作用。本文通过系统梳理改革开放40年来我国创业投资体制的演变历程,阐述各阶段具有代表性的创业投资体制建设、取得的主要成就和典型案例,从演化经济学视角分析了我国创业投资体制演变的经验;揭示了创业投资体制演化的动力是资本聚合与科技创新的共同作用,创业投资体制的演进也是制度需求与制度供给的博弈过程,创业投资体制在不断地试错、学习与创新中逐步成熟;最后,基于创新创业背景提出促进我国创业投资持续健康发展的主要策略。
In the past 40 years of reform and opening up, China's venture capital industry has experienced the initial stage led by government, the exploratory period of twists and turns in practice, and the outbreak period under of multi-party construction. Finally, it gradually entered the“Entrepreneurship and Innovation”era of rational development, and venture capital plays an increasingly important role in economic development. This paper systematically sorts out the evolution of China's venture capital system in the past 40 years of reform and opening up, expounds the representative venture capital system construction, major achievements and typical cases at each stage, and analyzes the experience of China's venture capital system evolution from the perspective of evolutionary economics. It reveals that the driving force of the evolution of the venture capital system is the joint effect of capital aggregation and technological innovation. The evolution of the venture capital system is also the game process of institutional demand and institutional supply. The venture capital system gradually matures in trial, learning and innovation. Finally, based on the background of innovation and entrepreneurship, the main strategies to promote the sustainable and healthy development of venture capital in China are put forward.
作者
孟方琳
田增瑞
贾巧萍
赵袁军
Meng Fanglin;Tian Zengrui;Jia Qiaoping;Zhao Yuanjun
出处
《西南金融》
北大核心
2019年第7期3-10,共8页
Southwest Finance
基金
国家自然科学基金项目“基于业绩的管理层薪酬支付能够激励企业技术创新”(项目编号:71302055)
教育部人文社科项目“企业家营商环境感知模型及其对创新创业意愿的影响”(项目编号:17YJA630087)资助
关键词
创新创业
创业投资
创新投资
风险投资
创业投资体制
科技投融资体系
多层次资本市场
小微企业融资
数字经济
产业转型升级
金融支持双创
演化经济学
Innovation and Entrepreneurship
Venture Capital
Innovative Investment
Risk Investment
Ven.ture Capital System
Science and Technology Investment and Financing System
Multi-level Capital Market
Financing of Small and Micro Enterprises
Digital Economy
Industrial Transformation and Upgrading
Financial Support for Double Ventures
Evolutionary Economics
