Finance and Technological Change

ENRICO SANTARELLI

• Acknowledgements - PART 1: THEORY - The Role of Finance in Technological Change - The Legacy of Schumpeter, and the Limits of the Schumpeterian Approach in the Analysis of the Financing of Innovation - Technology and Finance in Economic Growth and Structural Change - Asset Specificity, R&D Financing, and the Signalling Properties of the Firm's Finance Structure - PART 2: EVIDENCE - The Long Term Dynamics of Financial and Technological Styles. How Close a Relationship? - The Structure of the Data Processing Industry in the 1980s and Early 1990s - The Financing of Innovative Activities in the Data Processing Industry - PART 3: THE ROLE OF GOVERNMENT - Public Policies towards the Financing of Innovative Activities - Conclusions and Synthesis of the Main Results - Bibliography - Index

'A pioneering and valuable study linking finance to innovative activity: not only is the theoretical framework sound, thought-provoking and creative, but amply supported through systematic empirical testing.' - David B. Audretsch, Wissenschaftszentrum Berlin fur Sozialforschung