since the mid-1930s when banks invented the term loan. Concurrently, bank innovation first involved the invention of credit … analysis and covenant design. Later, bank innovation included the advent of loan sales, increased loan syndications, the … calibrate a model of bank innovation to determine the quantitative contribution of bank innovation to economic growth …

Evidence on the "funding gap" for investment innovation is surveyed. The focus is on financial market reasons for …

We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …

This paper examines the relationship between innovation and firms' dependence on external capital by analyzing the … innovation activities of privately-held and publicly-traded firms. We find that public firms in external finance dependent … in internal finance dependent industries do not have a significantly better innovation profile than matched private firms …

reforms also redistribute innovation across industries in closer alignment to its distribution in the U.S., which we take to … increasing value-added growth rates across all industries, and by larger margins in industries with more innovation potential …

While the trade literature has tended to view export activity and innovation as complementary activities, we present … amount of innovation, exporting, and endogenous financial capital structure is able to account for these empirical findings …