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Unterentwickelter Risikokapitalmarkt und geringe Beschäftigungsdynamik: zwei Seiten derselben Medaille im strukturellen Wandel?

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  • Belke, Ansgar
  • Fehn, Rainer

Abstract

Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a different perspective and analyzes whether differences in venture capital investments have explanatory power with respect to labor market performance across countries and over time. In particular, the Anglo-Saxon countries have been relatively successful over the last two decades in producing employment growth and in reducing unemployment compared to most continental European OECD countries. As a rule they have also been and are still ahead in developing thriving venture capital markets that are often deemed crucial for the creation of new firms and for successfully managing the ongoing radical structural change away from traditional industrial production toward the so-called “new economy”.
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  • Belke, Ansgar & Fehn, Rainer, 2002. "Unterentwickelter Risikokapitalmarkt und geringe Beschäftigungsdynamik: zwei Seiten derselben Medaille im strukturellen Wandel?," Discussion Paper Series 55, Julius Maximilian University of Würzburg, Chair of Economic Order and Social Policy.
  • Handle: RePEc:zbw:wuewwb:55
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    Cited by:

    1. Norbert Berthold & Rainer Fehn, 2003. "Unemployment in Germany: Reasons and Remedies," CESifo Working Paper Series 871, CESifo Group Munich.
    2. Hans Pitlik & Margit Schratzenstaller, 2011. "Growth Implications of Structure and Size of Public Sectors," WIFO Working Papers 404, WIFO.

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