The Analysis Of Venture Capital To The Influence Of U.S.Economic Growth

Venture investment is a investment behavior which put funds to high technology which contained failure and venture, it promotes commercialization of high technological achievements as soon as possible, achieves high capital gains.As an innovative capital organization, VC integrates financial capital and industry capital by the cycle of conversion between both works and makes conversion through circulation to proceed investors and venture capitalist and venture enterprise. It improves the efficiency of capital operation and supports venture enterprise development to accelerate the industrialization of innovation. The US venture investment experienced five stages of development which was germination, preliminary, stagnation circuitous, high speed and mature development. It shapes a set of relatively efficient operation mode from the organization mode, raise the capital, input stage aspects and exit manner.This paper selects nearly30years of sample data, through co-integration and granger causality methods to test American venture investment effect ion on economic growth. The results show that it exists a stable equilibrium relationship between the former and the latter, but it doesn’t exist a direct causality between VC and GDP. The further regression analysis shows that VC has a less significant influence on the economic growth than other economic sectors. That does not mean that venture investment has little effect on the US economy, In last20years, the flourish of venture investment and the emergence of new American economy show that it has a potential long-term effects for venture investment to economic growth. VC influences economic growth by cultivating economic growth Micro unit, creating new economic growth point, and promoting the economic development efficiency,According to venture capital to the influence of U.S. economic growth and its characteristics, this paper argues that Chinese development of venture investment should establish and perfect the development venture investment system of laws and regulations, and position government guiding status in venture investment activities, and train development all aspects of talents which are required by developing venture investment, and guard against the excessive speculation of venture investment.