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Finance, Innovation and Growth: Changing Patterns and Policy Implications

Objective

The long-term economic performance of Europe depends on its ability to generate new knowledge and inventions, and, to translate invention into innovation and innovation into economic adaptation and growth.This ability is central to achieving the objectives of the Lisbon Agenda and the new industrial policy in an enlarged EU.However innovation involves more than invention, more than the funding of science and technology and R&D.It is in relation to the exploration, manufacturing and commercialisation of novelty that the analysis financial markets is of the first importance.Their dependence on effective arrangements to supply finance and monitor and redistribute the returns to innovation is our central concern.We approach these issues from different angles: analysis of different modes of bank and venture funding, operation of equity markets and innovation, effects of finance on the selection dynamics of market growth and evolution, and study of consequences of modes of financing innovation for the distribution of income and employment generation.This last point is key since different modes of financing of innovation, investment and corporate growth are likely also to entail far reaching consequences in terms of employment dynamics across different types of firms.FINNOV tackles these priorities by bringing together the expertise of scholars from the fields of economics of innovation, applied industrial economists, political economists and business historians to investigate the interconnections and implications between recent changes in the patterns of financing, innovation and industrial evolution, and the ensuing dynamics in corporate growth employment and income distribution.By exploring the interactions between financial structure, productivity, profitability, investment, growth and employment, FINNOV offers direct insights on the scope for European innovation policy and tries to identify the technological and market conditions which foster innovation and growth.

Call for proposal

FP7-SSH-2007-1
See other projects for this call

Coordinator

THE OPEN UNIVERSITY
Address
Walton Hall
MK7 6AA Milton Keynes
United Kingdom
Activity type
Higher or Secondary Education Establishments
EU contribution
€ 428 012
Administrative Contact
Mark Wight (Mr.)

Participants (6)

THE CHANCELLOR MASTERS AND SCHOLARS OF THE UNIVERSITY OF CAMBRIDGE
United Kingdom
EU contribution
€ 241 269
Address
Trinity Lane The Old Schools
CB2 1TN Cambridge
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Edna Murphy (Ms.)
SCUOLA SUPERIORE DI STUDI UNIVERSITARI E DI PERFEZIONAMENTO S ANNA
Italy
EU contribution
€ 243 637
Address
Piazza Martiri Della Liberta 33
56127 Pisa
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Pietro Tonutti (Prof.)
UNIVERSITA POLITECNICA DELLE MARCHE
Italy
EU contribution
€ 190 036
Address
Piazza Roma 22
60121 Ancona
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Marco Pacetti (Prof.)
NARODOHOSPODARSKY USTAV AKADEMIE VED CESKE REPUBLIKY VEREJNA VYZKUMNA INSTITUCE
Czechia
EU contribution
€ 121 975
Address
Politickych Veznu 7
111 21 Praha 1
Activity type
Research Organisations
Administrative Contact
Stepan Jurajda (Dr.)
UNIVERSITE MONTESQUIEU-BORDEAUX IV
France
EU contribution
€ 189 341
Address
Avenue Leon Duguit 1
33608 Pessac
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Christelle Bellenger (Ms.)
THE UNIVERSITY OF SUSSEX
United Kingdom
EU contribution
€ 79 600
Address
Sussex House Falmer
BN1 9RH Brighton
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Rossana Dowsett (Ms.)