我国政府产业基金的引导及投资效果研究

›› 2021, Vol. 39 ›› Issue (3): 0-0.

• 科技发展战略与政策 •

我国政府产业基金的引导及投资效果研究

李宇辰

南开大学经济学院财金研究所

收稿日期:2020-03-17 修回日期:2020-05-19 出版日期:2021-03-15 发布日期:2021-05-28
通讯作者: 李宇辰

Research on the Guidance and Investment Effect of Government Industrial Fund in China

Received:2020-03-17 Revised:2020-05-19 Online:2021-03-15 Published:2021-05-28

摘要/Abstract

摘要： 摘要：政府产业基金是我国重要的产业政策之一，对促进经济社会发展至关重要。本文通过手工构建一个新的数据库，对我国政府产业基金运行情况进行分析，发现政府产业基金通过引导社会资金形成杠杆效应，较好的支持了处于创业早期和高新技术行业的企业。但在实际运行过程中，仍存在诸多问题：（1）政府产业基金募集的资金中已投资的比例较小，资金结存严重；（2）政府产业基金区域发展不平衡;（3）政府主导型投资比例过高，未能较好贯彻市场化运行原则。对此，本文从政府产业基金的制度设计出发，提出了相关政策建议。

关键词: 政府产业基金, 引导, 创业早期, 高新技术行业

Abstract: Abstract: The government industrial fund is one of China’s important industrial policies and is essential to promote economic and social development. Using a new hand-collected database, this paper analyzes the operation of China’s government industrial funds, and finds that China’s government industrial funds can better support start-up firms and high-tech firms by guiding commercial funds to invest them. However, we find that there are three problems may decrease the effect of government industrial funds. Firstly, the proportion of funds invested by government industrial funds is small, and the balance of funds is serious. Secondly, the development of government industrial funds varies largely among different regions. Finally, the proportion of government-led investment is too large, failing to meet the market-oriented principle. In this regard, this paper proposes relevant policy recommendations based on the institutional design of government industrial funds.

Key words: Government industrial fund, guiding, start-up firm, high-tech firm

李宇辰. 我国政府产业基金的引导及投资效果研究[J]. , 2021, 39(3): 0-0.

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我国政府产业基金的引导及投资效果研究

Research on the Guidance and Investment Effect of Government Industrial Fund in China

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