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Journal Article

Venture Capital: A Catalyst for Innovation and Growth


Abstract: This article studies the development of the venture capital (VC) industry in the United States and assesses how VC financing affects firm innovation and growth. The results highlight the essential role of VC financing for U.S. innovation and growth and suggest that VC development in other countries could promote their economic growth.

Keywords: venture capital; innovation; growth;

JEL Classification: E13; E22; G24; L26; O16; O31; O40;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Review

Publication Date: 2022

Volume: 104

Issue: 2

Pages: 120-130