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Entrepreneurship, Innovation and Economic Growth:The Case of Yangtze River Delta in China

Author

Listed:
  • Zheng, Jianghuai
  • Hu, Zhining
  • Wang, Jialing

Abstract

This paper firstly discusses why the economic growth in the Yangtze River Delta has been slowed down recently and suggests a need totransform the current input-based economic growth pattern into aninnovation-based one. Next, through our theoretical analysis, we find that the change of current economic growth pattern is just the innovative reallocationof production factors, and the new economic growth driven by innovation is mainly initiated by the transmutation of entrepreneurship. Finally, we test our belief with real-world evidence. It shows that the Delta has formed a mechanism in which entrepreneurship and human capital mutually promote each other. However, the interactive relationship between R&D expenditure and entrepreneurship has not been developed in general. In addition, excessive government interventions will do harm to the growth of entrepreneurs and economic development.

Suggested Citation

  • Zheng, Jianghuai & Hu, Zhining & Wang, Jialing, 2008. "Entrepreneurship, Innovation and Economic Growth:The Case of Yangtze River Delta in China," MPRA Paper 8919, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:8919
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    File URL: https://mpra.ub.uni-muenchen.de/8919/1/MPRA_paper_8919.pdf
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    References listed on IDEAS

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    1. Rasmus Lentz & Dale T. Mortensen, 2005. "Productivity Growth And Worker Reallocation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(3), pages 731-749, August.
    2. Rachel Griffith & Stephen Redding & John Van Reenen, 2004. "Mapping the Two Faces of R&D: Productivity Growth in a Panel of OECD Industries," The Review of Economics and Statistics, MIT Press, vol. 86(4), pages 883-895, November.
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    Cited by:

    1. Zhang Hailun & Xu Sheng, 2017. "The Innovation-Driven Impact on Economic Structure Transition. The Case of China," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 53(4), pages 9-26, December.

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    Keywords

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    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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