Innovation and Finance

The book explores the complex relationship between innovation processes and finance. A well-functioning financial system spurs innovation by identifying and funding stimulating entrepreneurial activities which trigger economic growth, whilst innovations open up profitable opportunities for the financial system. Despite to its importance, this relationship has so far received relatively little attention. This collection, from an international group of experts, explores some of the key aspects of this complex interrelationship. Topics covered include the role of stock markets, venture capital, international financial transactions, and the historical co-development of the financial and industrial domains. So far, the communities in economics dealing with both issues are almost completely disconnected. This volume brings together economic research dealing with the interface between innovation and finance, and highlights the importance of the Neo-Schumpeterian perspective.