Gateway to Think Tanks
来源类型 | Publication |
Microeconomic Insights from Israel's Venture Capital Emergence: Towards a Theory of Evolutionary Targeting of Infant Industries STE-33-2006 | |
Gil Avnimelech; Prof. Morris Teubal | |
发表日期 | 2006-05 |
出版年 | 2006 |
语种 | 英语 |
摘要 | Researchers
Gil Avnimelech ,
Prof. Morris Teubal
Cite As:
Avnimelech Gil , Teubal Morris . Microeconomic Insights from Israel's Venture Capital Emergence: Towards a Theory of Evolutionary Targeting of Infant Industries STE-33-2006 Haifa Israel: Samuel Neaman Institute, 2006. https://www.neaman.org.il/EN/Towards-Theory-Evolutionary-Targeting-Infant-Industries-STE-33-2006 Download files:
![]() The development of Venture Capital in Israel during 1993-2000 is an example of policy-led industry emergence. The Israeli targeted policy adapted to trigger Venture Capital emergence is an example of successful infant industry policy. This policy stands on its own as a separate class, due to its non-conventional configuration and high impact. This paper both specifies why this policy succeeded and what lessons could be drawn for other countries attempting to develop a new Venture Capital Industry. Moreover, some of the insights gained from the Israeli case could be relevant for general targeted infant industry policies in the current phase of Globalization. That experience could be relevant whenever success in creating a new industry depends on a) generating a critical mass of resources and activities; b) accessing sophisticated foreign agents and coordinating them with domestic ones; and c) triggering a self-sustained emergence process, within a reasonably short period of time.
This paper introduces a microeconomic dimension to the study of Israel’s VC Industry development during the 1990s. This analysis focuses on building indices of Private Performance and Social Impact for 40 Israeli VC companies. Our analysis suggests that the emergence process of the Israeli VC industry was characterized by very strong positive correlation between VCs private performance and their social impact. Companies in our sample founded in the pre and early emergence of the new VC industry not only generated, on average, strong ‘social impacts’, they where also highly profitable. This condition has been termed Class A market conditions. We stress that Class A conditions are the base of effective collective learning and other agglomeration effects. Prevalence of such conditions explains the extremely rapid process of growth during VC emergence. We suggest that the Class A phenomena might not be unique to the Israeli case or to VC industries and that its existence has significant policy implication to the field of infant industry promotion. |
URL | https://www.neaman.org.il/EN/Towards-Theory-Evolutionary-Targeting-Infant-Industries-STE-33-2006 |
来源智库 | Science and Technology Policy Institute (Republic of Korea) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/472049 |
推荐引用方式 GB/T 7714 | Gil Avnimelech,Prof. Morris Teubal. Microeconomic Insights from Israel's Venture Capital Emergence: Towards a Theory of Evolutionary Targeting of Infant Industries STE-33-2006. 2006. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
7724171570_201704251(10KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | ![]() 浏览 | ||
STE33.pdf(461KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。