The Economic Impact of Venture Capital

Arbeitspapier

This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The quantitative results, based on a panel of 16 OECD countries from 1990 to 2001, show that the social return of VC is significantly higher than the social return of business or public R&D. An increased VC intensity also makes it easier to absorb the knowledge generated by universities and firms.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Paper Series 1 ; No. 2004,18

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies ; Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity ; Management of Technological Innovation and R&D ; Technological Change: Choices and Consequences; Diffusion Processes
• Thema: Venture Capital ; Productivity Growth ; Innovation ; Absorptive Capacity ; Risikokapital ; Kosten-Nutzen-Analyse ; Produktivität ; Innovationsdiffusion ; Makroökonomischer Einfluss ; Schätzung ; OECD-Staaten

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): van Pottelsberghe de la Potterie, Bruno ; Romain, Astrid
• Ereignis: Veröffentlichung
• (wer): Deutsche Bundesbank
• (wo): Frankfurt a. M.
• (wann): 2004

Weitere Informationen

• Handle: http://hdl.handle.net/10419/19485
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ