Can the Urban Industrial Transformation and Upgrading Be Stimulated by Government Venture Capital?

Hongdi Wang, Yanan Xue, Jin Xibo () and Ye Weiyang
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Hongdi Wang: Zhejiang University of Finance and Economics
Yanan Xue: Zhejiang University of Finance and Economics
Jin Xibo: Zhejiang University of Finance and Economics
Ye Weiyang: Zhejiang University of Finance and Economics

Chapter Chapter 133 in Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate, 2024, pp 1919-1936 from Springer

Abstract: Abstract A new round of technological revolution and industrial transformation is sweeping the world, and urban industrial transformation and upgrading are becoming increasingly important to every city. As a new type of policy tool, government venture capital (GVC) has received high attention from governments and is used to promote the transformation and upgrading of urban industries. Based on the theoretical discussions on the impacts and mechanisms of GVC on urban industrial transformation and upgrading, an empirical study with the evidence of a panel data of 277 cities in China from 2016 to 2020 is conducted. It is found that a significant positive correlation between GVC and the advanced level of urban industries and the rationality of urban industrial structure. Further analysis shows GVC can better promote urban transformation and upgrading at the advanced regions, while GVC can significantly improve the advanced level of industrial structure in the central regions, and improve the rationality of industrial structure in the western regions. Corresponding suggestions are given to the local governments to accelerate urban industrial transformation and upgrading through GVC.

Keywords: Government venture capital; Urban industrial transformation and upgrading; Impacting effects; Empirical study (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-981-97-1949-5_134

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