innovation. In homogeneous industries, firms internalize intra-firm spillovers and invest more in process innovation. We test …

aggravating financial instability. In the EU and more specifically the Euro Area, multiple channels of spillovers and contagion …

We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting … activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of … spillovers, indicating that venture capital fosters the commercialization of technologies. Methodologically, we contribute by …