Resource title

The Economic Impact of Venture Capital

Resource image

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Resource description

This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The quantitative results, based on a panel of 16 OECD countries from 1990 to 2001, show that the social return of VC is significantly higher than the social return of business or public R&D. An increased VC intensity also makes it easier to absorb the knowledge generated by universities and firms.

Resource author

Bruno van Pottelsberghe de la Potterie, Astrid Romain

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19485

Resource license

Adapt according to the presented license agreement and reference the original author.