A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level. The returns from Korea’s large...

This article analyzes the main problems and the solutions adopted in the market for Initial Coin Offerings (ICO), an alternative financing solution that has experienced spectacular growth and notoriety in recent years. This market relies on the use of Blockchain protocols and is, therefore,...

Crowdinvesting ist geprägt von einer Vielzahl von Partikularinteressen, wobei den Portalen eine Schnittstellenfunktion zukommt. Die Nutzung der durchaus vielversprechenden Potenziale dieser Finanzierungsform hängt maßgeblich davon ab, inwieweit es gelingt, den Informationsasymmetrien und...

Crowdinvesting ist geprägt von einer Vielzahl von Partikularinteressen, wobei den Portalen eine Schnittstellenfunktion zukommt. Die Nutzung der durchaus vielversprechenden Potenziale dieser Finanzierungsform hängt maßgeblich davon ab, inwieweit es gelingt, den Informationsasymmetrien und...

This paper studies the effects of differences in local administrative burdens in Italy in the years preceding a major reform that sped up firm registration procedures. Combining regulatory data from a survey on Italian provinces before the reform (costs and time to start a business) with...

Mounting evidence suggests that economic dynamism and entrepreneurial activity are declining in the United States. Over the past 30 years, the annual number of new business startups and the pace of job reallocation have declined significantly. We ask whether this decline in dynamism can be...

Staatliche Banken können eine wichtige Rolle bei der Sicherung der Funktionsfähigkeit von Finanzsystemen und für die gesamtwirtschaftliche Entwicklung spielen. Dies gilt offenbar vor allem dann, wenn die Bankenregulierung schwach ist und Banken nicht ausreichend überwacht werden. Die...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...