The Coordinated Development of the Government Guiding Fund and Operating Environment
The coordinated development of government guiding funds and their op-erating environment holds significant importance in resolving market failures in re-source allocation and promoting the quality and efficiency of regional economic de-velopment.This study revealed the coupling and coordination relationship between government guiding funds and their operating environment,through the calculation of the government guiding funds operational efficiency in each stage of"fundraising,in-vestment management,and exit"and the evaluation of operational environment level in various dimensions of"innovation,finance,industry,people's livelihood and fiscal".The study discovered that,in general,the government guiding funds and their oper-ating environment have entered the initial phase of coordinated development.Among them,the level of coupling and coordination between the two is relatively insufficient in the stage of the management,investment and exit;the coupling and coordina-tion relationship between the innovation environment and the stages of management,investment and exit stay imbalanced;the high-level development of the fiscal envi-ronment represents the principal factor contributing to the elevated level of coupling and coordination between the two systems in the eastern region,but it cannot solve the problem of inefficient exit of the eastern government guiding funds.To encourage the development of a highly coordinated approach between government guiding funds and their operating environment,the central and western regions should give priority to enhancing the innovation environment.The eastern region needs to focus on im-proving the operational capacity of large-scale funds;The government guiding funds require systematic operation and management to prevent the exit dilemma resulting from the accumulation of risks.
government guiding fundwhole chain efficiencyoperation environment factorcoupling coordination
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