Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/19485 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
Discussion Paper Series 1 No. 2004,18
Verlag: 
Deutsche Bundesbank, Frankfurt a. M.
Zusammenfassung: 
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.
Schlagwörter: 
Venture Capital
Productivity Growth
Innovation
Absorptive Capacity
JEL: 
G24
D24
O32
O33
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
394.85 kB





Publikationen in EconStor sind urheberrechtlich geschützt.