capital

The authors study how public policy can contribute to increase the share of early stage and high-tech venture capital investments, thus helping the development of active venture capital markets.

The author finds that firms that are
installing a significant new technology appear to be influenced by social learning, because they are more likely to suspend their investment project when other suspensions occur.

The authors use a stochastic frontier model to study the role of public investment in infrastructures and education. Findings confirm the positive influence of public capital on production and the investment effort in education on the improvement of efficiency, as well as the existence of a technological catch-up effect among countries.

The report identifies and analyzes the key
characteristics of the angel capital market in New Zealand - how it works, its size, significant developments, and differences with other countries.

The one-to-one mapping between cross-country differences in capital returns and the direction of international capital flows is broken in a multi-sector world where international factor price differences
are driven by technology differences.

The guide from the Kauffman Foundation is designed to help angels form the most effective angel organizations for their communities. The report addresses the decision-making process in forming an angel group, from evaluating whether a particular community can support an angel group to determining the best structure.

According to the Federal Reserve Bank of San Francisco, a recent topic of concern is how China can keep its economy from overheating, a concern that began to emerge toward the end of 2003, when
GDP grew at a rate of around 10%. In China, concerns about excess demand are centered in sectors such as real estate, cement, and steel, where investment has been so strong that government officials and many outside observers are concerned about the development of overcapacity, leading to a boom-bust cycle.

The paper provides new evidence on Europes
experience with venture capital in the 1990s. According to the author, individual countries activity is not solely determined by country characteristics and a purely domestic history, but also by a common European experience: the interdependence of valuations in primary equity markets.

The paper uses historically informed case studies of Israel and the U.S. to develop an appreciative model of how the venture capital industries in these two nations came into being. Findings indicate that despite its recent crisis, the Israeli case proves that it is possible for follower nations with the right preconditions to develop a vibrant industry far more rapidly than did the U.S.

The paper tests how competition in local U.S. banking markets affects the market structure of non- financial sectors. Theory offers competing hypotheses about how competition ought to influence firm entry and access to bank credit by mature firms.