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Financing Europe's Fast Movers. Bruegel Policy Brief 2008/01, January 2008

Philippon, Thomas and Veron, Nicolas. (2008) Financing Europe's Fast Movers. Bruegel Policy Brief 2008/01, January 2008. [Policy Paper]

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    Abstract

    Summary. Arguments about structural policies in Europe, including the EU’s Lisbon strategy, put a legitimate emphasis on labour and product market reforms, but often overlook the role of the financial system in fostering innovation and growth. Corporate finance is crucial for the emergence of new companies, well beyond the much-analysed technology sector. In a knowledge economy where companies rely less on physical investment, traditional bank loans are insufficient. While Europe has a world-class financial system for established companies, new instruments tailored to the needs of emerging firms remain underdeveloped in most EU countries.

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    Item Type: Policy Paper
    Uncontrolled Keywords: Structural policy; corporate finance.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > business/private economic activity
    EU policies and themes > Policies & related activities > Lisbon StrategyAgenda/Partnership for Growth and Employment
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 05 Jun 2008
    Page Range: p. 8
    Last Modified: 15 Feb 2011 17:53
    URI: http://aei.pitt.edu/id/eprint/8321

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