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| Author: | Bottazzi, L. Rin M. D. |
| Title: | Venture capital in Europe and the financing of innovative companies |
| Journal: | Economic Policy
2002 : APR, 34, p. 229-263 |
| Index terms: | VENTURE CAPITAL EUROPE INNOVATION |
| Language: | eng |
| Abstract: | Venture capital has greatly developed over the lust three decades in the United States, but much less so in Europe, where policy-makers are striving to help channel more funds into this form of financial intermediation. In this paper the authors provide the first assessment of venture capital in Europe. The authors document its development in the 1990s and compare it with that of American venture capital. The authors find the wedge between them to be large and growing. The authors then look at the involvement of venture capital with some of Europe's most innovative and successful companies, those listed on Europe's 'new' stock markets. Venture capital is effective in helping these firms overcome credit constraints, and thus to be born in the first place. |
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