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Title:Distribution dynamics in European venture capital PDF Logo
Authors:Stolpe, Michael
Issue Date:2003
Citation:[Series:] Kiel working paper [Editor:] Institut für Weltwirtschaft, Kiel [No.:] 1191
Series/Report no.:Kieler Arbeitspapiere 1191
Abstract:This paper evaluates the evolution of European venture capital investments since 1990, using the distribution dynamics methodology. It tests and rejects the hypothesis that the international allocation of venture capital investments is driven by a pathdependent process of agglomeration, in which a country?s initial advantage is transformed into a long-term lead. Instead, the evidence from a cross section of 13 European countries is more favourable for the alternative hypothesis, which explains international variations in venture capital investments as part of countries? different patterns of specialization. The robustness of these findings and implications for government policy are discussed.
Subjects:Distribution dynamics , Markov chains , New technology-based firms , Venture capital
JEL:F21
G20
F43
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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