我国信息产业与风险投资互动发展关系研究

运用协整分析和建立向量误差修正模型，对1998--2011年我国信息产业和风险投资之间的互动关系进行实证研究。结果表明：信息产业和风险投资存在长期均衡关系；无论长期或短期，风险投资都是信息产业的Grang．er原因，风险投资推动了信息产业的发展；而信息产业在长期和短期都未表现为风险投资的Granger原因，信息产业的发展并未显著地促进风险投资的发展。经验证据不支持两者的互动发展关系。

Study on the Interactive Development Between Venture Capital and China's Information Industry

We select the Information industry and the total amount of venture capital,during 1998 and 2011 in our country,to ana- lyze their interactive relationship in the way of co-integration analysis and vector error correction model in this paper. The results show that： there is a long-term equilibrium relationship between them; In the long-term and the short-term, the venture capital is the signifi- cant Granger cause of Information industry, that＇s the venture capital promotes the development of information industry; but not vice ver- sa, the development of information industry does not contribute significantly to the development of venture capital. The empirical evi- dence does not support the coordinated development relationship between them.