中文摘要：

建立创意型经济体制是我国经济发展的重点课题，而创业投资乃创意型经济体制的一个重要部分。在研究创业投资与经济增长之间的关系基础上，利用Granger因果检验，发现创业投资是经济增长的Granger原因，反之则不成立；通过脉冲响应函数和方差分解模型发现创业投资者规模变动对经济增长的影响在短期内比较大，而经济增长对创业投资的影响则具有很长的滞后性，通过选择滞后1期，滞后4期，滞后8期的创业投资规模作为VAR的自变量，进一步证实创业投资有利于经济增长。

英文摘要：

It is well known that VC investment is positive to macroeconomic growth. We make the analysis on the relation- ship between venture capital investment and economic growth through Granger casualty test, impulse response analysis, variance decomposition and VAR. The results show that venture capital investing size is the economic growth ＇ s Granger casualty at 1 lag . But inversely, the economic growth is not the venture capital Granger casualty. What ＇ s more, from the impulse response analysis and variance decomposition, we find the venture capital investment impact the economic growth in both short -run and long- run term; but the economic growth impact more with several lags. At last we select VC size by lag 1, lag 4 and lag 8 as independent variable, we prove that the venture capital investment is positive to the economic growth.