Financing Structural Change and Labor Market Performance: Surveying the Role of Venture Capital and Investor Protection
Year: 2002
Author: Fehn, Rainer
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 122 (2002), Iss. 3 : pp. 469–495
Abstract
This paper analyzes the real effects of differences in structures on financial markets, especially concerning quasi-equilibrium unemployment. It argues that a vibrant venture capital market is an important prerequisite for financing structural change and thus for keeping unemployment low in the ongoing transition to the "new economy". It furthermore points out the crucial importance of extensive investor protection in this respect. A thriving venture capital market is therefore at odds with the corporatist politicoeconomic equilibrium in continental European countries involving extensive protection of insiders on labor as well as on financial markets.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.122.3.469
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 122 (2002), Iss. 3 : pp. 469–495
Published online: 2002-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 27