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Assessing relationship and contribution of China's technological entrepreneurship to socio-economic development

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  • Shan, Siqing
  • Jia, Yingwei
  • Zheng, Xianrong
  • Xu, Xiaobo

Abstract

As a driver of global economic growth, the development of emerging economies has been a highly significant trend over the past decade. China has adopted technological entrepreneurship as a national strategy for future economic development. In this paper, we applied a statistical description, contribution rate, gray absolute correlation, and elastic coefficient analysis to assess contributions of technological entrepreneurship to national development. We found that: (1) The number of technology enterprises has been growing and their contributions to the country's output value, exports, employment, and tax are increasing; (2) From 2010 to 2014, the industrial output value of technological entrepreneurship accounted for 41.49% of the average GDP growth. There is a high correlation between technological entrepreneurship and economic growth with a gray correlation coefficient of 0.8296. (3) Technological entrepreneurship has made a significant contribution to the promotion of technological progress and foreign trade. Invention patents created by entrepreneurs accounted for approximately 71% of domestic invention patents. The total export value of high-tech products accounted for approximately 22.6%. (4) Technological entrepreneurship didn't have a clear impact on employment with an employment elasticity of only 2.79%. (5) The contribution rate of technological entrepreneurship to state tax revenue was approximately 8.49%. We considered the paper as the first endeavor to study technological entrepreneurship in China from macro perspectives which have both theoretical value and practical significance for socio-economic development.

Suggested Citation

  • Shan, Siqing & Jia, Yingwei & Zheng, Xianrong & Xu, Xiaobo, 2018. "Assessing relationship and contribution of China's technological entrepreneurship to socio-economic development," Technological Forecasting and Social Change, Elsevier, vol. 135(C), pages 83-90.
    • Handle: RePEc:eee:tefoso:v:135:y:2018:i:c:p:83-90
    DOI: 10.1016/j.techfore.2017.12.022
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    References listed on IDEAS

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    Cited by:

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    2. Nguyen, Canh Phuc & Nguyen, Bach & Duy Tung, Bui & Dinh Su, Thanh, 2021. "Economic complexity and entrepreneurship density: A non-linear effect study," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    3. Chung, Doohee & Jung, Haejun & Lee, Yunjeong, 2022. "Investigating the relationship of high-tech entrepreneurship and innovation efficacy: The moderating role of absorptive capacity," Technovation, Elsevier, vol. 111(C).
    4. Yurdagül Meral, 2019. "High technology export and high technology export impact on growth," International Journal of Business Ecosystem & Strategy (2687-2293), Bussecon International Academy, vol. 1(3), pages 32-38, July.
    5. Liu, Chen & Yang, Wei, 2023. "Does social insurance stimulate business creation? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    6. Ehsan Javanmardi & Sifeng Liu, 2019. "Exploring Grey Systems Theory-Based Methods and Applications in Analyzing Socio-Economic Systems," Sustainability, MDPI, vol. 11(15), pages 1-19, August.

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