This paper examines the financial sector preconditions for the successful development of high technology sectors. It argues that there is a close relation between types of activities undertaken in different countries and their institutional structures. A distinguishing characteristic of the...

Using a newly constructed data set, we compare sources of funds and investment strategies of venture capital (VC) funds in Germany, Israel, Japan and the UK. Sources of VC funds differ significantly across countries, e.g. banks are particularly important in Germany, corporations in Israel,...