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Financing Innovation in the Yangtze River Economic Belt: Rationale and Impact on Firm Growth and Foreign Trade

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  • Ying Cheng
  • Wei Liu
  • Jian Lu

Abstract

The increasingly large role of financial intermediaries in promoting firms' innovation and internationalization has led to great research interest. China has faced mounting pressure to take entrepreneurial finance and innovation seriously. Little is known about entrepreneurial financiers' activities and performance. Focusing on entrepreneurial financiers' activities in the Yangtze River Economic Belt, this study investigates how they select projects and how well they perform in China. Evidence shows that various financiers serve in the financial system to nurture innovative entrepreneurial activities; they tend to focus on technology, and the major financiers vary with stage of industrial technological development. With the support of entrepreneurial finance, the invested firms in general maintain a sound growth momentum, but the foreign trade of relevant industries has not significantly increased and has even declined. The implication for industrial and international development policy is discussed.

Suggested Citation

  • Ying Cheng & Wei Liu & Jian Lu, 2017. "Financing Innovation in the Yangtze River Economic Belt: Rationale and Impact on Firm Growth and Foreign Trade," Canadian Public Policy, University of Toronto Press, vol. 43(s2), pages 122-135, April.
    • Handle: RePEc:cpp:issued:v:43:y:2017:i:s2:p:122-135
    DOI: 10.3138/cpp.2016-077
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    Cited by:

    1. Yang Zhong & Aiwen Lin & Zhigao Zhou & Feiyan Chen, 2018. "Spatial Pattern Evolution and Optimization of Urban System in the Yangtze River Economic Belt, China, Based on DMSP-OLS Night Light Data," Sustainability, MDPI, vol. 10(10), pages 1-14, October.
    2. Martin Hemmert & Adam R. Cross & Ying Cheng & Jae-Jin Kim & Florian Kohlbacher & Masahiro Kotosaka & Franz Waldenberger & Leven J. Zheng, 2019. "The distinctiveness and diversity of entrepreneurial ecosystems in China, Japan, and South Korea: an exploratory analysis," Asian Business & Management, Palgrave Macmillan, vol. 18(3), pages 211-247, July.
    3. Yanqi Han & Minghui Hua & Malan Huang & Jin Li & Shirui Wang, 2022. "Dynamic Transition and Convergence Trend of the Innovation Efficiency among Companies Listed on the Growth Enterprise Market in the Yangtze River Economic Belt—Empirical Analysis Based on DEA—Malmquis," Sustainability, MDPI, vol. 14(9), pages 1-28, April.

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