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This book offers a new explanation why venture capital in investments differ substantially between countries. Recent literature has attributed these differences to differences in the financial architecture and tax regulations. By contrast, this book shows by using simulations of a general...
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(Japan) if it is profitable to do so and where the technology transfer is the engine of economic growth. In this model, among … multiple equilibria, the equilibrium with low labor cost in Japan was chosen during the rapid growth period. Then, the firms in …, during the other periods, the equilibrium with high labor cost in Japan was chosen, which caused stagnation. The model is …
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larger. The paper concludes that Germany in its own interests should throw its weight in the EU behind wide …
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