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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
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Coordinator

THE OPEN UNIVERSITY
Address
Walton hall
MK7 6AA Milton keynes
United Kingdom

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Region
South East (England) Berkshire, Buckinghamshire and Oxfordshire Milton Keynes
Activity type
Higher or Secondary Education Establishments
Administrative Contact
Mark Wight (Mr.)
Links
EU contribution
No data

Participants (6)