Entrepreneurship Capital And Economic Performance

The financial crisis in 2008 can not be ignored,it also has a great impact on China, China's external demand drop significantly in exports , foreign investment that pulled out of China, the hot money take the opportunity to influx, China's financial markets suffered heavy losses; The SMEs in the Yangtze River Delta region have bankruptcies,many people lost their jobs. And the situation will get worse.In this case,China's economy needs to free themselves from excessive dependence on external demand situation,we should increase domestic consumption and demand, Change the pattern of economic development,by which we can achieve sustained and steady economic growth.so, a new kind of economy - entrepreneurial economy becomes more and more important.The role of entrepreneurship in the economy changes a lot, it gradually disappeared during the post-war economy (or Solow economy),and surfaced during the knowledge-based economy, finally, get rise to the 20th century, researchers pay more and more attention to the pioneering study, Governments also recognized that entrepreneurship and innovation is the key of the competitiveness and committed to delivering entrepreneurship policies.The researchers found that entrepreneurship have a positive impact on the a country's economy, For example, Acs, Audretsch, Braunerhjelm and Carlsson (2004) studied the data in Germany, found that national level entrepreneurship and economic growth have a positive correlation.However, China's pioneering research is still in an early stage, Many people think that entrepreneurship capital is the venture capital, In addition, since the lack of data of China's entrepreneurial study, many empirical studies can not be started. this paper, with the data of 1998 - 2008 China's 29 provinces,made an empirical research on the relationship of venture capital and economic performance, Verify the performance of venture capital role in promoting the economy, also provide some guidance.on policy-making.