The problem of private under-investment in innovation: A policy mind map

被引：82

作者：

Peneder, Michael ^{[1
]}

机构：

[1] Austrian Inst Econ Res WIFO, A-1030 Vienna, Austria

来源：

TECHNOVATION | 2008年 / 28卷 / 08期

关键词：

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

D O I：

10.1016/j.technovation.2008.02.006

中图分类号：

T [工业技术];

学科分类号：

08 ;

摘要：

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 (i) incentive-based arguments that address the problem of limited appropriability of new knowledge, and (ii) 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: (i) causes and rationales, (ii) aims and targets, (iii) critical constraints, and (iv) the main finance-related instruments of innovation policy. (C) 2008 Elsevier Ltd. All rights reserved.

引用

页码：518 / 530

页数：13

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