Schumpeter argued that entrepreneurial finance causes the absorption of innovation in the economy and productivity growth. Previous empirical work, however, reported an insignificant relationship between the primary equity market and economic growth, and suggested exploration of the routes...

Schumpeter argued that entrepreneurial finance causes the absorption of innovation in the economy and productivity growth. Previous empirical work, however, reported an insignificant relationship between the primary equity market and economic growth, and suggested exploration of the routes...