Public Policy and Venture Capital Backed Innovation

Christian Keuschnigg

No 1066, CESifo Working Paper Series from CESifo

Abstract: This paper discusses the role of public policy towards the venture capital industry. The model emphasizes four margins: supply of entrepreneurs due to career choice, entry of venture capital funds and search for investment opportunities, entrepreneurial effort and venture capital advice during the start-up period, and introduction of new goods by successful start-ups. The paper considers short- and long-run comparative static and welfare effects of policy reform with regard to capital gains taxation, innovation subsidies, public R&D spending and other policy initiatives.

Keywords: innovation; venture capital; double moral hazard; public policy (search for similar items in EconPapers)
Date: 2003
New Economics Papers: this item is included in nep-cfn, nep-ino and nep-pbe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1066

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