Workers have different abilities in research, development and innovation (R&D&I) activities. Firms have different “prospects for innovation”. Innovation is facilitated by matching innovators, i.e. workers that are specialized in R&D&I to firms with good prospects for innovation. Aggregate...

In this paper we present a comparative analysis of Nordic countries’ financial systems and consider in particular the recent growth of Nordic venture capital industries. We document that the Nordic countries’ financial systems display several similarities that have characterized their...