Research Catalog

Title

Venture Capital Policy Review [electronic resource]: United States / Günseli Baygan

Author

Baygan, Günseli.

Publication

Paris : OECD Publishing, 2003.

Details

Description

23 p.; 21 x 29.7cm.

Summary

The United States has the oldest and most developed venture capital industry in the OECD. Several successful high-technology companies in computers and communications, as well as in healthrelated sectors and services, were venture-backed. Young high-growth firms also benefit from a continuum of complementary finance from business angels, institutional investors and second-tier stock markets. The government played an active role in the early phases of the venture capital industry through the Small Business Investment Company (SBIC) program and various technology development schemes. A reduction in capital gains tax rates and liberalisation of rules for pension fund investments in risky assets in the late 1970s also unlocked new capital sources. Venture capital activity, however, has been quite cyclical. Periods of high fund-raising and investment in the 1980s and 1990s were followed by market downturns with negative effects on small firm survival and growth. Fundamental structural ...

Series Statement

OECD Science, Technology and Industry Working Papers, 1815-1965 ; no.2003/12

Uniform Title

OECD Science, Technology and Industry Working Papers, no.2003/12.

Subject

• Science and Technology
• United States

LCCN

10.1787/412177706602

OCLC

oecd-lib-001809

Author

Baygan, Günseli.

Title

Venture Capital Policy Review [electronic resource]: United States / Günseli Baygan

Imprint

Paris : OECD Publishing, 2003.

Series

OECD Science, Technology and Industry Working Papers, 1815-1965 ; no.2003/12

OECD Science, Technology and Industry Working Papers, 1815-1965 ; no.2003/12.

Connect to:

http://dx.doi.org/10.1787/412177706602

Indexed Term

Science and Technology

United States

Other Standard Identifier

10.1787/412177706602 doi