Does Venture Capital Spur Economic Growth? Evidence from Israel

Biao Zhang, Dongxiang Zhang (), Juan Wang and Xiashuai Huang
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Biao Zhang: Economics and Management School of Wuhan University, Wuhan, CHINA.
Dongxiang Zhang: Economics and Management School of Wuhan University, Wuhan, CHINA.
Juan Wang: Economics and Management School of Wuhan University, Wuhan, CHINA.
Xiashuai Huang: Economics and Management School of Wuhan University, Wuhan, CHINA.

Journal for Economic Forecasting, 2013, issue 2, 115-128

Abstract: Venture capital cannot only promote technological innovation and the development of high-tech industries, but also makes contribution to economic growth. Having a good reputation as the "Silicon Valley in Middle East", Israel is one of the most successful countries in developing venture capital. It is worth studying the impact of Israeli venture capital on its economic growth. We take Israel as example to establish an economic growth model with venture capital, which is taken as an endogenous variable in this paper. The results show that venture capital plays a significant role in the country’s economic growth.

Keywords: venture capital; economic growth; Cobb-Douglas function; Israel (search for similar items in EconPapers)
JEL-codes: C22 F43 G2 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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