Footnote:
In: Federal Reserve Bank of St. Louis REVIEW
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2023 erstellt
Description:
This article uses an endogenous growth model to study how the improvements in financing for innovative start-ups brought by venture capital (VC) affect firm innovation and growth. Partial equilibrium results show how lending contracts change as financing efficiency improves, while general equilibrium results show that better screening and development of projects by VC investors leads to higher aggregate productivity growth