The Study Of Zhejiang Entrepreneurship’s Influence On Economic Growth

Since reforms and opening to the outside world, economic growth of Chinaattracts world’s attention. In the era of knowledge economy, the role ofentrepreneurship in economic growth has also been valued as intangible resources byresearchers. Economic growth improves the industrial and policy environment whichis needed for the growth of entrepreneurship, and entrepreneurship inherents enjoyingsetting up new enterprise,risk-taking, novelty and other spiritual qualities,all of whichaffect the economic growth through the technology and system improvements, theadjustment of industrial structure and knowledge spillover effects. Zhejiang keepsrapid economic development, its abundant entrepreneurship plays a more and morerole in economic growth, so the paper discusses Zhejiang entrepreneurship’s influenceon economic growth in details.The paper sorts out the relevant theoretical literature, provides a economic viewof the meaning and characteristics of entrepreneurship, and explains how theentrepreneurial spirit impact on economic growth through innovation, adjustment andthe combined effect of industrial structure in theory; then takes Zhejiang for example,analyses of the internal and external factors which form the entrepreneurship, explainsthe specific characteristics; and then measures the entrepreneurship with principalcomponent factor analysis. Applying Cobb-Douglas production function which takesin entrepreneurship variable to do empirical analysis about the effects ofentrepreneurship on economic growth. We conclude that the promote effects inNortheast of Zhejiang is higher than that in southwest. Finally, we proposed todevelop the traditional business culture, encourage entrepreneurial innovation, adaptto its role in promoting industrial restructuring, and provide improved elements of theregional concentration of support to promote entrepreneurship,so it can do better inpromoting economic growth.