This paper analyzes the impact of equity market information imperfections on R&D driven growth. The mechanism proposed is built on two premises. First, the R&D-sector relies largely on equity finance, because of its production features. Second, equity can be persistently mispriced. This is due...

This paper examines the real impact of quot;booms-and-bustsquot; of technology-intensive firms, such as the late 1990s episode. We emphasize that what makes such episodes different from quot;booms-and-bustsquot; related to other assets is the presence of knowledge spillovers. Such spillovers...

This paper analyzes the impact of equity market information imperfections on R&D driven growth. The mechanism proposed is built on two premises. First, the R&D-sector relies largely on equity finance, because of its production features. Second, equity can be persistently mispriced. This is due...