THE VENTURE CAPITAL DEVELOPMENT AS PRECONDITION FOR INNOVATION CAPACITY INCREASING (CASE OF SERBIA)

Nikola Makojevic and Petar Veselinovic
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Nikola Makojevic: Faculty of Economics, University of Kragujevac
Petar Veselinovic: Faculty of Economics, University of Kragujevac

Chapter 9 in Managing Structural Changes - Trends and Requirements, 2012, vol. 1, pp 175-183 from Institute of Economic Sciences

Abstract: In order to improve innovation capacity across economy, economic policy should work on closing financial gap existing between capital demand and supply side. This gap comes from bank sector dominance and its characteristic as a financial source not interested in financing activities in different stages of development. Hence, if economy wish to increase its innovation capacity it should work on developing venture capital as source for financing economic activity. The aim of this chapter is to analyse condition for venture capital development within Serbian economy as a significant source for innovation financing. Research conducted in the chapter, using VC index developed in literature, showed that Serbia need to improve its institutional and economic environment in order to motivate venture capital activities.

Keywords: Innovation; financial sources; financial gap; venture capital (search for similar items in EconPapers)
Date: 2012
ISBN: 978-972-9344-06-0
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