The Influence Of The Institutional Environment For Entrepreneurship

Since reform and opening up,China has achieved rapid economic growth of nearly30 years with 10% growth.This result depends on the rapid development of private enterprises and the emergence of a group of motivated and capable entrepreneurs.With the continuous development of economic system and consummate,entrepreneurship has been the important areas of economic to study by scholars,In addition,this article focuses on the entrepreneur spirit under the premise that the driving effect on economic growth,entrepreneurship will be affected by what factors.By collating the literature at domestic and abroad can be found that entrepreneurship in promoting the effect on economic growth has been recognized by many scholars,but about the system environment on the influence of entrepreneurship is not recognized as a consensus.Some scholars think that corruption factors hinder the entrepreneurial spirit,but also some scholars believe that corruption factors will be in a special kind of enterprise "management behavior",that will help companies reduce the barriers to entry and operating costs,and then to promote the entrepreneurial spirit.On the other hand,on the impact of the financial development of entrepreneurship,scholars' research results are similar,reduce government intervention,to create a high marketization environment is good for business.Raising the level of financial development will promote the efficiency of entrepreneurship.In this paper,through theoretical models and empirical analysis which is concluded that the financial development level has positive relationship with the entrepreneurial spirit.Also,the paper analyzes the influence of financial market scale and efficiency to entrepreneurial spirit.At the same time,this article also pay special attention to the selection of index to measure the financial development level,compared to previous research in the selection of indicators to study the advantages and disadvantages of China.Eventually determine the selection of investment in fixed assets loan/government budgets in China this index to study the level of financial development in China.Articles collected panel data with 1997-2014.By adopting the method of regression analysis.The empirical analysis results show that corruption has significant positive impact onentrepreneurial spirit;Financial development level for the entrepreneurial and innovative spirit,have significant positive influence.The article results show that our country should continue to firm action against corruption,creating a favorable business environment for enterprise management behavior,promote the efficiency of entrepreneurship,thereby promote economic growth.At the same time,should also further enhance the level of financial development,especially pay attention to the financial marketization.