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Newservices in a new economy: the role of venture capital in a knowledge based society

Author

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  • Radu Musetescu

    (Academy of Economic Studies, Bucharest)

Abstract

The present article argues that the development of a knowledge based society has a powerful impact in the role played by the financial sector in an economy as the services supplied by the traditional financial institutions - the commercial bank and the stock exchange - are seriously challenged by the present reality. In such a context, a new type of financial intermediary - the venture capital fund - knows an explosive growth, being directly linked to the proliferation of the new type of economic system. The development of the venture capital funds will not cause the disappearance of the traditional financing sources as this new financial actor „fills a gap“ in the financial system, which is developed in the present day form during the Industrial Age. The maturation of the venture capital industry is the financial equivalent of the proliferation of the knowledge based society.

Suggested Citation

  • Radu Musetescu, 2007. "Newservices in a new economy: the role of venture capital in a knowledge based society," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 9(22), pages 157-162, June.
    • Handle: RePEc:aes:amfeco:v:9:y:2007:i:22:p:157-162
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    More about this item

    Keywords

    eventure capital; innovation; knowledge; knowledge based; society;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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