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北大数字金融Workshop第九讲讲座预告 | Josh Lerner, Harvard Business School
- 来源：
- 学校官网
- 收录时间：
- 2026-06-25 18:39:53
- 时间：
- 2026-06-09 09:00:00
- 地点：
- 报告人：
- Josh Lerner
- 学校：
- 北京大学
- 关键词：
- entrepreneurship, innovation, China, venture capital, developing world, global economy, private equity
- 简介：
- Global innovation and entrepreneurship have traditionally been dominated by a handful of high-income countries, especially the US. This paper investigates the international consequences of the rise of a new hub for innovation, focusing on the dramatic ascent of high-potential entrepreneurship and venture capital in China. First, using comprehensive global data, we show that as the Chinese venture industry rose in importance in certain sectors, entrepreneurship increased substantially in other emerging markets. Using a broad set of country-level economic indicators, we find that this effect was driven by country-sector pairs most similar to their counterparts in China. The estimates are similar when exploiting Chinese sector-specific policies that affected the likelihood of entrepreneurship. Second, turning to mechanisms, we show that the baseline findings are driven by local investors and by new firms that more closely resemble existing Chinese companies. Third, we find that this growth in emerging market investment had wide-ranging economic consequences, including a rise in serial entrepreneurship, cross-sector spillovers, innovation, and broader measures of socioeconomic well-being. Together, our findings suggest that many developing countries benefited from the more “appropriate” businesses and technology that resulted from a rise of an innovation hub in an emerging economy.
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报告介绍：
This paper investigates the international consequences of the rise of a new hub for innovation, focusing on the dramatic ascent of high-potential entrepreneurship and venture capital in China. It explores how the growth of China's venture industry has influenced entrepreneurship in other emerging markets, the underlying mechanisms, and the broader economic impacts.
报告人介绍：
Josh Lerner is the Jacob H. Schiff Professor at Harvard Business School and Co-Director of the HBS Private Capital Project. Much of his research focuses on venture capital and private equity organizations and innovation policy. He has been recently recognized as among the forty most influential economists worldwide by ScholarGPS and research.com. He has co-directed the National Bureau of Economic Research’s Productivity, Innovation, and Entrepreneurship Program since 2010 and serves as co-editor of their publication, Entrepreneurship and Innovation Policy and the Economy. He founded and runs the Private Capital Research Institute, a nonprofit devoted to encouraging access to data and research and has been a frequent leader of and participant in the World Economic Forum projects and events. In the 1993-1994 academic year, he introduced an elective course for second-year MBAs. Over the past three decades, “Venture Capital and Private Equity” has consistently been one of the largest elective courses at Harvard Business School and whose teaching materials are used in business schools around the world. He has taught numerous executive and doctoral courses on venture capital, private equity, and entrepreneurship and has introduced a series of entrepreneurship classes at Harvard College. He graduated from Yale College with a special divisional major. He worked for several years on issues concerning technological innovation and public policy. He then earned a Ph.D. from Harvard's Economics Department. For information on Josh’s compensated outside activities, please see www.bella-pm.com.
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