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Missing the target: Assessing the role of government in bridging the European equity gap and enhancing economic growth

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  • Thomas C. Lawton

Abstract

International evidence suggests that the European venture capital market would grow by itself for management buy-out and buy-in type investments but would not function to promote small and medium sized enterprise growth and employment without a stimulus from policy, as the bridge between risk and return is simply too great. In this paper it is argued that the challenge for policy is to use venture capital as a tool for creating that growth--rather than growing the venture capital industry in and of itself. Whilst acknowledging that the limited public provision of seed capital can prove an effective stimulus for many small enterprises, it is hypothesized that a further target for government in Europe should be the removal of structural barriers--both tangible and intangible--that hinder the development and diffusion of private venture capital. This involves tackling not only regulatory impediments but also providing the information to dispel the embedded fear of risk--and of venture capitalists--that abides across Europe.

Suggested Citation

  • Thomas C. Lawton, 2002. "Missing the target: Assessing the role of government in bridging the European equity gap and enhancing economic growth," Venture Capital, Taylor & Francis Journals, vol. 4(1), pages 7-23, January.
    • Handle: RePEc:taf:veecee:v:4:y:2002:i:1:p:7-23
    DOI: 10.1080/13691060110064246
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    Cited by:

    1. Scheuplein, Christoph, 2017. "Company builder: Innovatives Risikokapital als Motor des Beschäftigungswachstums," Forschung Aktuell 11/2017, Institut Arbeit und Technik (IAT), Westfälische Hochschule, University of Applied Sciences.
    2. Muduli, Silu & Dash, Shridhar Kumar, 2017. "Inter-temporal Calculative Trust Design to Reduce Collateral Need for Business Credits," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 38(1 and 2), pages 65-83.
    3. Sam B.A. Tende, 2014. "Government Initiatives Toward Entrepreneurship Development In Nigeria," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 8(1), pages 109-120.
    4. María Andrea Trujillo Dávila & Alexander Guzmán Vásquez, 2008. "Venture capital: una mirada al constructo teórico, su rol en los nuevos emprendimientos y agenda de investigación futura," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, June.
    5. Bertoni, Fabio & Tykvová, Tereza, 2012. "Which form of venture capital is most supportive of innovation?," ZEW Discussion Papers 12-018, ZEW - Leibniz Centre for European Economic Research.

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