The Influence of Entrepreneurship and Social Networks on Economic Growth—From a Sustainable Innovation Perspective
Abstract
:1. Introduction
2. Literature Return and Problem Presentation
2.1. Research on Entrepreneurship and Economic Growth
2.2. Research on Social Network and Economic Growth
3. Model Construction and Variable Selection
3.1. The Associations between Entrepreneurship, Social Network, and Regional Economic Growth
3.2. Measure of Entrepreneurship and Social Network
3.2.1. Measure of Entrepreneurship
3.2.2. Measure of Social Networks
3.2.3. Model Construction
3.3. Variable Selection and Descriptive Statistics
4. Empirical Analysis
4.1. Regression Results of the National Sample
4.2. The Regression Results of the Groups in the Eastern, Central, and Western Regions
5. Conclusions and Suggestions
5.1. Discussion of the Results of the Research
5.2. Theoretical Contributions and Limitions
Author Contributions
Funding
Conflicts of Interest
References
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Abbreviations | Variables | Style | Definition |
---|---|---|---|
PERGDP | Regional economic growth | Independent Variable | The level of regional economic growth is measured by the logarithm of the per capita real GDP of each province. |
ENT | Entrepreneurship level | Dependent Variable | Entrepreneurship level is measured by the self-employment rate of individual and private enterprise in Section 3.2.1. |
SOCIAL | Social network level | Dependent Variable | The social network level is measured by the logarithm of the information sharing rate in Section 3.2.2. |
GOV | Government intervention degree | Control Variable | The level of government intervention is measured by the logarithm of government fiscal expenditure as a percentage of GDP. |
GI | Government institutions quality | Control Variable | The quality of government institutions is measured by the logarithm of the ratio of fiscal expenditure to GDP after eliminating education and technology. |
EDU | Education level | Control Variable | The level of education is measured by the logarithm of the number of students in regular colleges and universities in each province. |
Variables | Observations | Mean | SE | Min | Max |
---|---|---|---|---|---|
PERGDP | 310 | 1.05142 | 0.5320645 | −0.3020472 | 2.330004 |
ENT | 310 | 0.1547411 | 0.1344004 | 0.023509 | 0.8343002 |
SOCIAL | 310 | −0.1.065982 | 0.4994503 | −0.2.785893 | −0.2513802 |
GOV | 310 | −0.1.516892 | 0.4912286 | −0.2.436857 | 0.3214755 |
GI | 310 | −0.1.721418 | 0.5165664 | −0.2.691544 | 0.2051028 |
EDU | 310 | 4.007374 | 0.96489 | 0.9858168 | 5.296265 |
Variable | Mode11 | Model 2 | Model 3 | Model 4 | Model 5 | Model 6 |
---|---|---|---|---|---|---|
PERGDPt-1 | 0.9038 *** | 0.8711 *** | 0.8589 *** | 0.7791 *** | 0.9196 *** | 0.9350 *** |
(0.0292) | (0.0323) | (0.0418) | (0.0576) | (0.0304) | (0.0102) | |
ENT | 0.0968 ** | 0.0914 * | −0.3345 * | 0.0661 | −0.0224 | 0.1293 *** |
(0.0453) | (0.0510) | (0.1945) | (0.1028) | (0.0958) | (0.0385) | |
SOCIAL | 0.0326 * | 0.0789 *** | 0.1364 ** | 0.2274 *** | −0.2494 | |
(0.0186) | (0.2397) | (0.0559) | (0.0608) | (0.0737) | ||
GOV | −0.3540 ** | −0.2541 | −0.2622 | −2.430 ** | −0.0927 | |
(0.1440) | (0.2327) | (0.1826) | (0.1034) | (0.1082) | ||
GI | 0.2804 ** | 0.1137 | 0.1581 | 0.1786 * | 0.0631 | |
(0.1329) | (0.2055) | (0.1669) | (0.0999) | (0.1023) | ||
EDU | −0.0089 | 0.0145 | 0.0607 | −0.0159 * | −0.0027 | |
(0.0078) | (0.0730) | (0.0763) | (0.0087) | (0.0092) | ||
ENT2 | 0.4545 ** | 0.1353 * | ||||
(0.1807) | (0.0778) | |||||
SOCIAL2 | 0.0340 ** | −0.0303 | ||||
(0.0163) | (0.0217) | |||||
ENT*SOCIAL | 0.1956 * | |||||
(0.1147) | ||||||
constant | 0.2069 *** | 0.2679 *** | 0.1571 | 0.1242 | 0.1849 ** | 0.1423 *** |
(0.0412) | (0.0499) | (0.3155) | (0.3094) | (0.0700) | (0.0310) | |
AR(2) | 0.118 | 0.124 | 0.349 | 0.107 | 0.320 | 0.286 |
Hansen test | 0.203 | 0.152 | 0.140 | 0.178 | 0.230 | 0.130 |
Observations | 279 | 279 | 279 | 279 | 279 | 279 |
Variables | Model 7 | Model 8 | Model 9 |
---|---|---|---|
PERGDPt-1 | 0.7772 *** | 0.6872 *** | 0.8063 *** |
(0.0771) | (0.1125) | (0.0252) | |
ENT | 0.1451 * | −1.3089 *** | 0.1298 *** |
(0.0709) | (0.2907) | (0.0343) | |
SOCIAL | 0.2206 *** | 0.4177 ** | 0.1203 *** |
(0.0596) | (0.1629) | (0.0248) | |
GOV | −0.4294 * | −0.3163 | −0.6581 *** |
(0.2370) | (0.3173) | (0.1325) | |
GI | 0.3134 | 0.0583 | 0.5866 *** |
(0.2003) | (0.2463) | (0.1249) | |
EDU | −0.0077 | −0.0371 *** | −0.0020 |
(0.0326) | (0.0092) | (0.0101) | |
constant | 0.4138 *** | 0.7274 *** | 0.3897 *** |
(0.1212) | (0.1936) | (0.0419) | |
AR(2) | 0.744 | 0.532 | 0.279 |
Hansen test | 0.601 | 0.945 | 0.893 |
Observations | 99 | 72 | 108 |
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Chen, F.-W.; Fu, L.-W.; Wang, K.; Tsai, S.-B.; Su, C.-H. The Influence of Entrepreneurship and Social Networks on Economic Growth—From a Sustainable Innovation Perspective. Sustainability 2018, 10, 2510. https://doi.org/10.3390/su10072510
Chen F-W, Fu L-W, Wang K, Tsai S-B, Su C-H. The Influence of Entrepreneurship and Social Networks on Economic Growth—From a Sustainable Innovation Perspective. Sustainability. 2018; 10(7):2510. https://doi.org/10.3390/su10072510
Chicago/Turabian StyleChen, Feng-Wen, Long-Wang Fu, Kai Wang, Sang-Bing Tsai, and Ching-Hsia Su. 2018. "The Influence of Entrepreneurship and Social Networks on Economic Growth—From a Sustainable Innovation Perspective" Sustainability 10, no. 7: 2510. https://doi.org/10.3390/su10072510
APA StyleChen, F. -W., Fu, L. -W., Wang, K., Tsai, S. -B., & Su, C. -H. (2018). The Influence of Entrepreneurship and Social Networks on Economic Growth—From a Sustainable Innovation Perspective. Sustainability, 10(7), 2510. https://doi.org/10.3390/su10072510