System Of Private Investment In The Development Of Innovative Research

Non-governmental investment is the most beautiful landscape in the process of China economic reform and development .Over 20 years in the Reform and Opening Up ,Non-governmental investment has made tremendous contributions to sustained ,stable and health development of the Chinese economy ,which has become a vital new force for the national economic development .With New Institutional Economics ,this thesis focuses on the history and the existing institutional restraint since the Reform and Opening Up ,and tries to make new institutional arrangement and design. The first part makes theoretic study on development of non-governmental investment. It is necessary to define and classify it. Non-governmental investment has many advantages in competitive fields .The development and growth of non-governmental investment is an objective necessity. Now some new trends and characteristics have emerged and the development of non-governmental investment has occupied a very important position the national economy.The second part makes a systematic study on the history of development of non-governmental investment since the found of PRC. It classifies the history of development of non-governmental investment into five stages. They are inhibition period (49～78) , recovery period (78～92) , smooth development period (92～97) , stagnant period (98～02) and the rapid development period (03 so far) .The third part exposes the problems in the process of rapid development of non-governmental investment.The fourth part makes analysis on institutional restraint of development of non-governmental investment. In the period of economic transition, the first factor of preventing development of non-governmental investment is institutional restraints, including formal institutional restraints, Informal institutional restraints and implementation mechanism of restraint. Restrains of property rights institution, financial supporting institution, Social intermediary mechanism, culture notions, market permit institution and property protection has been the bottleneck of the development of non-governmental. The fifth part gives the patterns of three developed countries and regions --the United States, the EU and Japan, how to promote non-governmental investment in the development of the system model. Due to difference in the institutional base , different development patterns occurred, but they are subject to the principle of economic efficiency, which appear to be unique development pattern in line with local conditions. The future pattern of non-governmental investment should be orientated a combination of development ways of intro-source and extro-source , embodying the local features with assistance of industrial clusters. In this way, the sustainability of pattern development can be assured.The sixth part gives the institutional Innovation and the Strategic concept. It is necessary to hasten institutional innovations to increase institutional supply for non-governmental investment. This part designs the property rights institution, financial support institution, intermediary institution and cultural building. The idea of establishing a system of institutions for the non-state owned business is raised, which consists of fundamental institution, key institution and general institution. All the institutions should go together, and the most important is that the supervision and assessment mechanism to carry out the institutions should be established.In addition ,as to the study methods ,this thesis integrates new institutional economics .Maxism economics and regional economics ,adopting combination of theoretic analysis and experimental analysis ,qualitative analysis and quantitative analysis, comparative analysis, qualitative analysis and quantitative analysis, comparative analysis and synthetical induction .From theory to practice ,from history to reality ,from individual to general ,from concrete to abstract ,the theory of institutional change is used to study the important issues in the development of non-governmental investment since Reform & Opening Up.The points created by this thesis are as follows:1.Leaving development of non-governmental investment into the background of macro economy ,a systematic study is made on developing situations ,characteristics and laws of the five development stages ,i.e. inhibition period , recovery period , smooth development period, stagnant period and the rapid development period. 2.A study on the developed countries and regions—the United States, European Union and Japan to promote the development of non-governmental investment patterns shows that it is needed to integrate experience with regional specific conditions and situation to creat suitable regional distinguishing pattern ,but not completely to imitate or transplant .To use for reference ,three points we must pay attention to are :firstly ,it is need to increased support of government for development of non-governmental investment .Secondly ,it is needed to develop social intermediary organizations rapidly .Thirdly ,it is needed to actively cultivate Start-up culture ,advocate pioneering spirit ,innovative spirit ,striving spirit and a spirit of working in earnest ,and to construction excellent atmosphere of culture for development of non-governmental investment.3. With respect to the current problems existed in development of non-governmental investment ,the thesis presents new arrangement and design of institution to facilitate development of non-governmental investment .In terms of indirect financing ,the current governmental commercial banks should establish loan department for non-governmental economy ,and financing ratio to non-governmental economy should be stipulated by law. Meanwhile ,the middle and small banks for non-governmental economy should be established .As to direct financing ,it is necessary to establish multi-level capital market system .And this thesis further point out that the main reasons of difficult implementation or bad effect of implementation of institution is lack of supervision mechanism and effect assessment mechanism for implementing institution .Therefore ,this thesis presents supervision mechanism and effect assessment mechanism for implementing institution and gives an idea of establishing a system of institutions for development of non-governmental economy.