In comparative political economy (CPE), ‘patient capital' (‘PC') – primarily from relational banks – is central to categorizing national economies. Yet the rise of ‘market-based banking' highlights the growing inability of commercial banks to be patient. This raises the question of...

A central ambition of the Lisbon Agenda and Europe 2020 is promoting greater innovation in Europe. This paper investigates three questions: How have EU efforts to foster innovation affected innovation finance? How has European financial market integration affected innovation finance? And, are...

The concept of institutional complementarity - i.e. the idea that the co-existence of two or more institutions enhances the functioning of each - is increasingly used to explain why institutions are resistant to change and why introducing new institutions into a system often leads to unintended...

This paper summarizes and evaluates changes in the financial systems of the advanced capitalist economies since the early 1980s. It does not focus directly on the development of international financial markets per se, though developments in this area are intricately linked with institutional...