This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and … millennia, although at times it has been pivotal in bringing innovation, taking risks and driving efficiency. It is argued that … positive feedback between early capital market development and investment in infrastructure innovations that lowered system …

gains taxation, innovation subsidies, public R&D spending and other policy initiatives. …

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists … productive and active VC industry boosts innovation driven growth. …

This paper analyzes innovation races in a moral hazard setting. I develop a model where two competing entrepreneurs …