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Private equity: spice for European economies

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Abstract

Private equity has become a substantial force in the European financial system. This paper describes some of the recent developments and looks at the structural relationship between private equity investments and economic growth. The econometric analysis of a set of panel data from 20 European countries for the period between 1994 and 2004 fails to reject the hypothesis that private equity investments are associated with economic growth. According to this analysis, an ncrease in private equity investments of 0.1% of GDP is associated with an increase in real economic growth of between 0.2 pp (buyouts)and 0.8 pp (early-stage investments) — other things being equal.

Suggested Citation

  • Meyer, Thomas, 2006. "Private equity: spice for European economies," Journal of Financial Transformation, Capco Institute, vol. 18, pages 61-69.
    • Handle: RePEc:ris:jofitr:0840
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    Cited by:

    1. Sakshi Sharma & Kunjana Malik & Manmeet Kaur & Neha Saini, 2023. "Mapping research in the field of private equity: a bibliometric analysis," Management Review Quarterly, Springer, vol. 73(1), pages 61-89, February.
    2. Kelly, Roger, 2010. "Drivers of Private Equity Investment Activity: Are buyout and venture investors really so different?," EIF Working Paper Series 2010/06, European Investment Fund (EIF).

    More about this item

    Keywords

    Private equity; venture capital; financial markets; growth;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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