The Interaction Research On Entrepreneurial Activity, Innovation And Real Estate Market

Around the whole world,innovation is the source of a country's prosperity.With the speed of market economy reform,the entrepreneurial activity plays a more and more important role in the economy,the level of entrepreneurial activity has become the important factor about the development in different country.At the city level and at the national level the real estate industry has been the country's macroeconomic development and the city's pillar industry,prices has touched a sensitive nerve with everyone,so the discussion about interaction of entrepreneurial activity and the real estate market has a positive meaning in encouraging entrepreneurship and controlling the housing prices.Our country has a vast territory and many cities;different cities have different levels of development and entrepreneurial atmosphere,so that considering the spillover effect in terms of entrepreneurial activity,innovation and real estate market is necessary.This dissertation analyses the crowding effect of house prices on the entrepreneurial activity and the promoting effect of innovation on the entrepreneurial activity with the threshold model.The result shows that the relationship between entrepreneurial activity and real estate market and innovation activity is not a simple linear relationship,but there is a non structural relationship.This dissertation has built a spatial panel model,effectively taking into account the differences between different regions,the result shows that the development of entrepreneurship is easy to form the phenomenon of spatial agglomeration,the extrusion effect of the entrepreneurial activity is still significant.In order to further analyze the spillover effect and the effect of the real estate market,this dissertation takes Shanghai city as an example to construct the multi VAR-BEKK-GARCH model and analyses the interaction between entrepreneurial activity and real estate in Shanghai.The conclusion of this dissertation shows that there is a complex interaction between entrepreneurial,innovative and real estate market.On the one hand,the real estate market has obvious crowding out effect on the entrepreneurial activity and innovation.At the same time,there is also spatial agglomeration and spatial diffusion effect in the real estate market.