Entrepreneurship And The Transformation Of Pattern Of Economic Growth

Since China's reform and opening up,economic construction has made great progress.However,the suspicion voice of China's economic growth has never been weakened,especially in the last two or three years,"the economic growth rate has attracted people's widespread attention.In fact,the essence of economic growth is the problem of economic growth pattern,we should not only focus on the quantity of economic growth,but also quality.For the pattern of China's economic growth has been concerned by academic world,but have not yet reached the same judgment.This paper argues that under the condition of market economy,entrepreneurship should play an important role in the transformation of pattern of economic growth.Entrepreneurship involves individuals,organizations,society and other aspects.This article only discusses the individual level of entrepreneurship.In this paper,we focus on the following questions:as a subjective factor,how does entrepreneurship affects the transformation of economic growth mode?How to promote China's economic growth mode transformation by developing entrepreneurship?Based on the review of relevant literature,we refine the transformation mechanism of entrepreneurship on economic growth:firstly,entrepreneurship judges the profit opportunities in market with local information,and optimize the allocation of capital,labor and technology,and in this process,they find the real price;secondly,the entrepreneurial capital can guide R&D and use of technology,continue to strengthen the role of technology in market;thirdly,entrepreneurial activity makes the growing competition and expand the scope of market,the fierce competition directly promotes the technological progress,expanding the scope of the market can improve production efficiency;finally,the entrepreneurship of innovation is the potential provider of the market economy institution,providing institutional guarantee for the transformation of the pattern of economic growth.In this paper,we use private households per million employments as a measure of entrepreneurship to analysis China's entrepreneurship in Eastern,Central and Western areas.Take Zhejiang and Shanxi Province as a comparison,we find that the concept,geography and government behavior are the main factors that influence entrepreneurship.We use contribution of total factor productivity to economic growth rate as a measure of the transformation of economic growth mode,it experiences a slight rise to declining process.We find that the decomposition of the DEA-Malmquist index of total factor productivity is under declining,so it is urgent that China's economic growth mode should be transformed.In the empirical analysis,this paper uses the provincial panel data from 1992 to 2014 to study the entrepreneurship's influence on economic growth pattern.The empirical result shows that:whether the national or partition regression shows that the significant positive effects of entrepreneurship on transformation of pattern of economic growth,but the efficiency of entrepreneur's allocation to human capital and the technology need to be further improved.According to the theoretical and empirical analysis,the conclusion of this paper are as follows:entrepreneurship is the source to transformation of pattern of economic growth,China needs to return to the economic growth lead by entrepreneurship;policy recommendations are the government should create a good environment for entrepreneur's productive activities and the government should strengthen the guidance of public opinion,to change the concept of the entrepreneur in the inland areas,and actively carry out the reform on state-owned enterprises to reshape the entrepreneurship,and become the main body of the market.