本論文以新古典成長理論為基礎，進一步提出一個新的知識成長內生機制模型。傳統的內生成長理論著重在人力資本及研究發展的重要，我們則進一步將另外兩類的知識長成管道納入現有的理論模型：一是來自技術先進國家對技術落後國家的知識外溢效果，包括衡量以出口及外人投資為管道的技術吸收能力，與國家間技術發展的差異；二是來自創業投資者對新進公司企業家的經驗傳遞效果。創業投資者對新企業家在發展技術以外所提供的幫助，包括公司治理及技術商品化等建議，是我們認為同樣對製造業總要素生產力的成長相當重要、卻長久以來為著重技術發展的傳統成長理論所忽略的部份。此外，在創業投資與總要素生產力成長間存在著內生性的問題。為了解決在文獻中的爭議，我們建立一套創業投資的法律環境指標做為工具變數，主要針對台灣目前相關法律對創業投資的資金來源、租稅誘因及上市容易程度等管制及獎勵進行評量。最後，我們進一步提出法律環境、創業投資、與台灣製造業總要素生產力成長間的實證結果。我們發現創業投資對台灣製造業總要素生產力有非常顯著的影響。此外，製造業的研發及出口，同樣對其發展有著顯著貢獻。然而，在我們的結果中，外人投資、人力資本對台灣製造業的影響並不顯著。

This thesis moves beyond the neoclassical growth model by proposing an endogenous mechanism for knowledge growth. We introduce a broader range of channels enhancing growth either by external diffusion of knowledge from technology advanced countries to late-comer countries or by experiential diffusion of knowledge brought about by the interaction between venture capitalists and start-up entrepreneurs. To avoid the endogenous problem between venture capital and knowledge growth, we construct the legal environment indicators of venture capital to serve as instrument variable, and provide the empirical results of the dynamic association between legal environment, venture capital, and total factor productivity growth in Taiwan.

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