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Articles
  • Effect of Entrepreneurship on Economic Growth ----Empirical Evidence in China   [MASS 2012]
  • Author(s)
  • Zhang Shengjian, Shizhu Liu
  • ABSTRACT
  • Entrepreneurship has long been considered as a factor playing an important role in economic growth. The current paper uses provincial-level panel data from 1998 to 2010 to analyze the relationship between entrepreneurship and regional economic growth in China. Moreover, these data were used to prove the positive effect of the entrepreneurial innovation of a region on regional economic growth. After verifying entrepreneurship as an endogenous variable, the area of arable land owned per capita is selected as the instrumental variable for the estimation of regional economic growth. Under the two-stage least squares method, ceteris paribus, when the entrepreneurship level increases by 1%, the real GDP per capita in a certain province increases by 2.56%. However, such a correlation is underestimated by the fixed effect and random effect ordinary least squares.
  • KEYWORDS
  • Entrepreneurship; economic growth; instrumental variable; regional development
  • References
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    Data Source: China Statistical Yearbook 1997-2011,
    http://www.stats.gov.cn/tjsj/ndsj/ Center for Economic Studies, Fudan University

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