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The Problem of Private Under-investment in Innovation: A Policy Mind Map

Author

Listed:
  • Michael Peneder

    (WIFO)

Abstract

This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on incentive-based arguments that address the problem of limited appropriability of new knowledge, and on the lacking access to external sources of finance caused by imperfections in the capital market. Drawing a policy mind map, which aims to enhance the mutual awareness and coordination of policy makers at the crossroads of technology and corporate finance, the paper is organised along the following chain of thought: causes and rationales, aims and targets, critical constraints, and the main finance-related instruments of innovation policy.

Suggested Citation

  • Michael Peneder, 2008. "The Problem of Private Under-investment in Innovation: A Policy Mind Map," WIFO Working Papers 313, WIFO.
  • Handle: RePEc:wfo:wpaper:y:2008:i:313
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    File URL: https://www.wifo.ac.at/wwa/pubid/31463
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    Cited by:

    1. Jürgen Janger & Michael Böheim & Martin Falk & Rahel Falk & Werner Hölzl & Daniela Kletzan-Slamanig & Michael Peneder & Andreas Reinstaller & Fabian Unterlass & Gunther Tichy, 2010. "Research and Innovation Policy after the Crisis," Austrian Economic Quarterly, WIFO, vol. 15(4), pages 321-335, December.
    2. Gimmon, Eli & Levie, Jonathan, 2010. "Founder's human capital, external investment, and the survival of new high-technology ventures," Research Policy, Elsevier, vol. 39(9), pages 1214-1226, November.
    3. repec:wfo:wstudy:59381 is not listed on IDEAS
    4. Rumen Dobrinsky, 2009. "The Paradigm of Knowledge-Oriented Industrial Policy," Journal of Industry, Competition and Trade, Springer, vol. 9(4), pages 273-305, December.
    5. repec:eee:respol:v:47:y:2018:i:8:p:1437-1447 is not listed on IDEAS
    6. repec:eco:journ1:2018-01-25 is not listed on IDEAS
    7. Victor Gilsing & Rudi Bekkers & Bodas Freitas & Marianne Van Der Steen, 2011. "Differences in technology transfer between science-based and development based industries: transfer mechanisms and barriers," Grenoble Ecole de Management (Post-Print) hal-01487500, HAL.
    8. repec:spr:italej:v:4:y:2018:i:2:d:10.1007_s40797-017-0062-2 is not listed on IDEAS
    9. repec:wfo:wstudy:33943 is not listed on IDEAS
    10. Karbowski Adam, 2016. "The Elasticity-Based Approach to Enterprise Innovation," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 49(1), pages 58-78, March.
    11. Jürgen Janger & Michael Böheim & Martin Falk & Rahel Falk & Werner Hölzl & Daniela Kletzan-Slamanig & Michael Peneder & Andreas Reinstaller & Fabian Unterlass, 2010. "Research and Innovation Policies after the Crisis," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(8), pages 675-689, August.
    12. repec:eee:tefoso:v:135:y:2018:i:c:p:75-82 is not listed on IDEAS
    13. Michael Peneder, 2013. "On the "Valley of Death" of Venture Capital Finance," WIFO Monatsberichte (monthly reports), WIFO, vol. 86(8), pages 637-648, August.
    14. Thomas Wolfgang Thurner & Stanislav Zaichenko, 2016. "Sectoral Differences In Technology Transfer," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(02), pages 1-24, February.

    More about this item

    Keywords

    technological change; corporate finance; innovation policy; fiscal incentives; venture capital;

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