Since the Second World War the West German states show persistent differences in their standard of living. The explanation of the incomplete catching-up process within West Germany is of crucial interest. After identifying productivity as the major growth driving force, this paper investigates...

As most other countries, Germany also faces dramatic regional differences in terms of socioeconomic development. One important driver of such development is the existence of a healthy entrepreneurial activity and the creation of new companies. We argue that venture capital (VC) and especially...