财政支出差异性对创业活动的激励效应分析

经济新常态下，创业是推动中国经济发展、改善民生的重要途径。创业过程的风险性、不确定性及正外部性需要政府给予积极支持。基于2007-2015年中国内地30个省市（除西藏外）数据，运用动态面板模型，考察地区财政支出和创业活动的关系。研究结果表明：财政支出规模对创业活动数量及创业活动质量具有滞后的积极作用；财政支出规模的滞后效应源于财政支出结构的滞后效应，不同财政支出结构对创业活动质量影响的差异较大；同时，创新是提升创业活动质量的重要手段。因此，政府应积极支持“大众创业、万众创新”，各地区财政创业扶持资金应该从规模和结构上进行调整，重点优化有利于创新的支出结构，为创业提供良好的公共环境。

Analysis on the Incentive Effect of Fiscal Expenditure Differences on Regional Entrepreneurship

Under the new normal economy, entrepreneurship is an important way to promote China's economic development and improve people's livelihood. The risk, uncertainty, and positive externalities of the entrepreneurial process require government finances to play an active support role. This article is based on the dynamic panel model of data from 30 provinces (except Tibet) in China from 2007 to 2015, and examines the relationship between regional fiscal expenditure and entrepreneurial activity. The research results show that the scale of fiscal expenditure has a lagging positive effect on the number of entrepreneurial activities and the quality of entrepreneurial activities. When we further study the impact of fiscal expenditure on the quality of entrepreneurial activities, we find that the lag effect of fiscal expenditure scale stems from the lagged effect of fiscal expenditure structure. The impact of fiscal expenditure structure on the quality of entrepreneurial activities varies greatly; at the same time, research finds that innovation is an important means of improving the quality of entrepreneurial activities. Therefore, in order to support "mass entrepreneurship, innovation," the financial support for business ventures in all regions should be adjusted in scale and structure, focusing on optimizing expenditure structures that are conducive to innovation and providing a favorable public environment for entrepreneurship.