Entrepreneur Functions and China Economic Growth Pattern Transformation

Abstract

This study constructs a theoretical model based on the entrepreneurs functions perspective to analyze the transformation of economic growth patterns, by the model analysis, we find that entrepreneur functions can promote technological progress, and new capital and new labor are easier to transfer to R and D sector if the intensity of entrepreneur function is stronger, so as to promote the transformation of economic growth patterns by the optimal allocation of resources and the promotion of technological progress. We use the solid evidence of provincial panel data from 1993 to 2008, to analyze that the entrepreneur function is indeed the important explanatory variables of promoting the transformation of economic growth patterns, which is divided further into eastern, central and western empirical findings, and we find that the improvement effect of entrepreneur function in western region to total-factor production rate is the most significant, while the year of 1999 is an interruption point, the regression results in stages also shows that the impact of entrepreneur function on total-factor production rate was improved sharply after 1999. Our research results verify the importance of entrepreneur functions to current economic growth patterns in our country.