Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/32484
Authors: 
Fehn, Rainer
Year of Publication: 
2000
Series/Report no.: 
Wirtschaftswissenschaftliche Beiträge des Lehrstuhls für Volkswirtschaftslehre, Wirtschaftsordnung und Sozialpolitik, Universität Würzburg 36
Abstract: 
This paper analyzes the real effects of differences in structures on financial markets, especially concerning quasi-equilibrium unemployment. It argues that a vibrant venture capital market is an important prerequisite for financing structural change and thus for keeping unemployment low in the ongoing transition to the “new economy”. It furthermore points out the crucial importance of extensive investor protection in this respect. A thriving venture capital market is therefore at odds with the corporatist politicoeconomic equilibrium in continental European countries involving extensive protection of insiders on labor as well as on financial markets.
Document Type: 
Working Paper

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