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dc.contributor.authorvan Pottelsberghe de la Potterie, Brunoen_US
dc.contributor.authorRomain, Astriden_US
dc.coverage.temporal1990-2001en_US
dc.date.accessioned2009-01-28T15:58:53Z-
dc.date.available2009-01-28T15:58:53Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19485-
dc.description.abstractThis 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.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,18en_US
dc.subject.jelG24en_US
dc.subject.jelD24en_US
dc.subject.jelO32en_US
dc.subject.jelO33en_US
dc.subject.ddc330en_US
dc.subject.keywordVenture Capitalen_US
dc.subject.keywordProductivity Growthen_US
dc.subject.keywordInnovationen_US
dc.subject.keywordAbsorptive Capacityen_US
dc.subject.stwRisikokapitalen_US
dc.subject.stwKosten-Nutzen-Analyseen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwInnovationsdiffusionen_US
dc.subject.stwMakroökonomischer Einflussen_US
dc.subject.stwSchätzungen_US
dc.subject.stwOECD-Staatenen_US
dc.titleThe Economic Impact of Venture Capitalen_US
dc.typeWorking Paperen_US
dc.identifier.ppn392676273en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:2163-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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