Over the course of the past twenty years, venture capital has fuelled an entrepreneurial revolution - first in the United States and now in Europe's common market -, which has opened new opportunities for technological innovation, capital investment and employment growth. Some of the most...

This paper explores the empirical relevance of the concept of comparative advantage and of the factor proportions theory of international trade and specialisation for the distribution of research and development (R&D) activities across seventeen industries in fourteen OECD member countries over...

This paper applies Markov chain analysis to examine the empirical dynamics of sectoral specialization in open economies. At issue is here persistence and the hypothesis of hysteresis in national patterns of industrial specialization, often claimed as an implication of strong path dependence in...