Regional entrepreneurial ecosystems in China

摘要

This study focuses on regional entrepreneurial ecosystems in the largest emerging economy in the world. We use a two-stage structural model distinguishing between two sets of factors, those that have direct impact on entrepreneurial activities and those that have indirect impact. Based on an empirical analysis of 263 Chinese prefecture-level municipalities from 2008 to 2015, we find that human capital, knowledge creation, and access to finance are the main factors that drive local entrepreneurial activity. New technology-based startups are significant predictors of the regional stock of human capital and the presence of risk finance suggesting the unique role of technology-based firms in promoting sustainable growth in regional entrepreneurial ecosystems. The presence of research-intensive universities also has a strong positive impact on regional entrepreneurial ecosystems.