Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming more important for investments in capital development, technical...

Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming more important for investments in capital development, technical...

Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming more important for investments in capital development, technical...

Recent work has highlighted the need for innovation investments to be understood through a mission oriented approach rather than a market failure one (Foray et al. 2012). However, this work has only focused on state agencies, such as DARPA, overlooking the role of public financial institutions...

Development banks are there for good times as well as bad times. They promote structural changes in economies, addressing longer-term challenges. They complement financial systems, helping to improve the functioning of banking and financial markets and bolstering economic resilience. They...

This paper focuses on the rise of state investment banks (SIBs) as lead funders of mission-oriented innovation in various countries' agendas regarding smart (innovation-led) growth, and not just fixers of ‘market failures'. The market failure justification for public finance fails to capture...

Förderbanken sind in guten und in schlechten Zeiten nützlich. Sie bringen strukturelle Veränderungen in Volkswirtschaften voran und helfen dabei, langfristige Herausforderungen anzugehen. Sie ergänzen Finanzsysteme, unterstützen die Funktionsfähigkeit von Banken- und Finanzmärkten und...

Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming more important for investments in capital development, technical...

Within the field of innovation studies, researchers have identified several market failures that hamper investment in R&D, innovation and growth in a market economy. Several policies such as government subsidies, tax deductions, soft loans, and public venture capital provided to firms that...