清洁技术领域风投资本驱动与贷款担保政策

各国政府日益重视风险资本在清洁技术领域内的投资,美国甚至针对该领域企业提供巨额贷款担保。本文分析了风险资本开辟新经济空间的三大边界条件,并以此分析清洁技术领域风险投资的有效性。结果表明,该领域内边界条件并不满足,巨额贷款担保政策可能难以产生预期效果,而诸如创新商业化支持计划、产业补贴、价格激励和政府采购等政策,则可在不扭曲市场过程的前提下,更好地激励清洁技术企业成长和技术创新。

Clean technology area venture direct investment driving and loaning guarantee policy

All countries governments have increased attention to venture capital investments in clean technology area, and U.S. government even provides large loan guarantees to the firms. This paper expli- cates three key boundary conditions in which venture capital opens new economic spaces, and applies them to the validity of venture capital investment in clean technology. The results indicate that, these condi- tions are not satisfied in this area, and large loan guarantees appear unlikely to yield the desired ef- fect. Other government policies such as Program for en- couraging technological commercialization, subsidies or price incentives, and government procurement can better encourage both firms＇ grow and technological in- novation without distorting the market creation pro- cess.