Financial Markets and Technological Change: Patterns of Technological and Financial Decisions by Manufacturing Firms in Southern Europe

Anthony Bartzokas

No 2001-04, UNU-INTECH Discussion Paper Series from United Nations University - INTECH

Abstract: In this paper we suggest that technological acquisition and innovation by firms involve new investment, and thus require a financial decision as well as a technological one. The level of analysis is the southern European countries and the impact of the European integration process on sectoral innovation and industrial restructuring processes. The paper suggests that technological development goes beyond incentives for technological invetsment projects. It depends on the quality of investment decisions and in the long run on the profitability of these projects. In consequence, as the structure and behaviour of the capital market strongly affects investment decisions, it will also affect technological development.

Keywords: Innovation; Industrial Restructuring; Industrial Financing; Investment; Southern Europe (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (4)

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