市场化改革、财富差距与企业家精神  

Market Reforms,Wealth Inequality,and the Dynamics of Entrepreneurship

作　　者：张菀洺[1,2] Zhang Wanming(School of Business,University of Chinese Academy of Social Sciences,Beijing)

机构地区：[1]中国社会科学院大学商学院 [2]中国社会科学院中国资本市场研究中心

出　　处：《经济社会体制比较》2024年第2期56-70,共15页Comparative Economic & Social Systems

基　　金：中国社会科学院大学校级科研专项重大项目“数字经济:工商管理学科数字经济人才培养基地”(项目编号:校20220103);河南省重点研发与推广专项(软科学)一般项目“河南省科技贷实施效果与优化路径研究”(项目编号:232400410312)。

摘　　要：文章通过创业选择模型和数值模拟方法,理论分析了市场化改革、财富差距对企业家精神的影响,并用2019年中国家庭金融调查的微观数据与2019年省级数据相匹配,进行了实证检验。研究发现,市场化改革通过降低创业成本、改善融资环境促进了企业家精神,在考虑个人创业选择、家庭创业选择以及排除内生性后结论依旧稳健;财富差距抑制了企业家精神,并且负向调节了市场化改革对企业家精神的积极影响,一定程度上解释了企业家精神边际放缓现象;进一步研究发现,在不同的经济预期下,市场化改革对企业家精神的促进效果存在异质性,经济预期转弱情况下,市场化改革促进效果最小,经济预期持平较强,经济预期转强情况下市场化改革的促进效果最大。在预期减弱的经济环境下,预期转弱抑制了市场化改革对企业家精神的促进效果,一定程度上解释了企业家精神边际放缓现象。This dissertation delves into the impact of market-oriented reforms and wealth disparity on entrepreneurship,employing a theoretical framework and empirical analysis based on the 2019 China Household Finance Survey and provincial data.The findings reveal:(1)Market-Oriented Reforms Enhance Entrepreneurship:Market reforms are shown to bolster entrepreneurship by diminishing barriers to entry and improving the financing landscape.This positive effect is consistent across various contexts,including individual and familial entrepreneurial endeavors,even when adjustments for potential endogeneity are made.(2)Wealth Disparity Dampens Entrepreneurial Activity:A significant finding is that wealth inequality adversely affects entrepreneurship and moderates the beneficial impact of market reforms on entrepreneurial initiatives.This dynamic contributes to a gradual deceleration in entrepreneurial growth,underscoring the detrimental role of wealth disparity in the entrepreneurial ecosystem.(3)Influence of Economic Expectations on Entrepreneurship:The study identifies a variance in the effectiveness of market reforms based on economic outlooks.Specifically,the stimulative impact of these reforms is least evident under pessimistic economic expectations,moderate under neutral expectations,and most pronounced in optimistic scenarios.This suggests that the general economic sentiment plays a critical role in shaping the entrepreneurial response to market reforms.The analysis thus provides a nuanced understanding of how market-oriented reforms and wealth disparities interact to influence entrepreneurship,highlighting the importance of economic expectations in this interplay.The dissertation underscores the complex nature of these relationships and the need for policies that address both market inefficiencies and wealth inequality to foster a more vibrant entrepreneurial landscape.

关 键 词：市场化改革 财富差距 企业家精神 

分 类 号：F123.9[经济管理—世界经济] F832F272.91