Inovação e seu financiamento: as contribuições da nova economia institucional

This working paper is an initial effort to analyze theoretical contributions from New Institutional Economics (NEI), specially the Transaction Costs framework, for understanding financial mechanisms to innovation. Transaction Costs economy is one hand from firm’s contractual theories that allows investigating how resources are allocated inside the firms. For the purpose of the paper, it will be analyze resource’s allocation for innovative activities that embraces uncertainly, asymmetric information and high risk.