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• Michael Freudenberg

Venture capital has grown significantly in most OECD countries during the 1990s, and is increasingly associated with improved firm performance in terms of survival rates, innovation and growth. This paper compares venture capital activity across OECD countries by taking into account international venture capital flows. Most comparisons are based on data concerning investments made by venture capital funds located in a given country (“country of management”). In contrast, this paper also uses a more policy relevant measure that examines data on investments made in a country (“country of destination”), by subtracting cross-border outflows and including inflows. For countries such as Ireland, Denmark and Switzerland, inflows plus outflows largely outweigh investments by domestic venture capital funds. Some countries, especially Ireland and Denmark, have significant net inflows of venture capital, while net outflows appear for the United Kingdom and Switzerland. While such cross-border ...

L’internationalisation de l’activité de capital-risque dans les pays membres de l’OCDE : Implications pour l’evaluation et l’action des pouvoirs publics

Le capital-risque a augmenté de manière considérable dans la plupart des pays Membres de l’OCDE au cours des années 90. Cette activité est de plus en plus souvent associée à la performance des entreprises, en termes de survie, d’innovation et de croissance. Le présent document compare l’activité de capital-risque dans les pays Membres de l’OCDE en tenant compte des flux internationaux de capital-risque. La plupart des études sont basées sur des données relatives aux investissements par des fonds de capital-risque localisés dans un pays donné (“pays gestionnaire”). Par contre, ce papier s’appuie également sur des données qui permettent d’analyser, de manière plus pertinente en termes de politique économique, les investissements dans un pays donné (“pays destinataire”), en incluant les entrées mais en excluant les sorties de capitaux. Dans certains pays comme l’Irlande, le Danemark et la Suisse, le montant global des entrées et des sorties de capitaux est nettement supérieur à celui ...

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Paper provided by OECD Directorate for Science, Technology and Industry in its series OECD Science, Technology and Industry Working Papers with number 2000/7.

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Date of creation: 19 Dec 2000
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Handle: RePEc:oec:stiaaa:2000/7-en

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1. Antonelli Cristiano, 2006. "Venture capitalism as a mechanism for knowledge governance," Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo 200604, University of Turin. [Downloadable!]
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   Other versions:
   • Marco Da Rin & Giovanna Nicodano & Alessandro Sembenelli, 2005. "Public policy and the creation of active venture capital markets," Working Paper Series 430, European Central Bank. [Downloadable!]
   • Da Rin, Marco & Nicodano, Giovanna & Sembenelli, Alessandro, 2006. "Public policy and the creation of active venture capital markets," Journal of Public Economics, Elsevier, vol. 90(8-9), pages 1699-1723, September. [Downloadable!] (restricted)
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   Other versions:
   • Andrea Schertler, 2001. "Venture Capital in Europe's Common Market: A Quantitative Description," Kiel Working Papers 1087, Kiel Institute for the World Economy. [Downloadable!]
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