Venture Capital Investment and Labor Market Performance: New Empirical Evidence for OECD Countries
AbstractAnglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany and Japan being possibly inferior to stock-market based financial markets in turbulent times and when approaching the economic frontier. A cleavage is related to venture capital markets which are flourishing on Anglo-Saxon but not on German type financial markets. Venture capital is crucial for financing structural change, new firms and innovations and therefore possibly also nowadays for employment growth.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 1447.
Length: 20 pages
Date of creation: Dec 2004
Date of revision:
Publication status: published in: Keuschnigg, Christian / Kanniainen, Vesa (eds.), Venture Capital, Entrepreneurship and Public Policy, CESifo Seminar Series, MIT Press, Cambridge/MA, 2004, 97-126
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Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-01-09 (All new papers)
- NEP-BEC-2005-01-09 (Business Economics)
- NEP-CFN-2005-01-09 (Corporate Finance)
- NEP-ENT-2005-01-09 (Entrepreneurship)
- NEP-INO-2005-01-09 (Innovation)
- NEP-MAC-2005-01-09 (Macroeconomics)
- NEP-MFD-2005-01-09 (Microfinance)
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