Access Statistics for Benjamin Wache
Author contact details at EconPapers.
| Working Paper |
File Downloads |
Abstract Views |
| Last month |
3 months |
12 months |
Total |
Last month |
3 months |
12 months |
Total |
| Information Frictions, Global Capital Markets, and the Telegraph |
0 |
0 |
0 |
39 |
0 |
1 |
12 |
66 |
| When venture capital (VC) investment flows into a local economy, does it yield economic activity beyond the receiving ventures? While a large literature studies the effect of VC investments on venture-level activity, its consequences for broader economic activity are less well understood. We study the effect of VC investment flows on destination county employment, wages, and venture creation, using a novel instrument based on the ‘social connectedness’ of counties to major non-local sources of VC investment. Using detailed data on investor-to-venture VC flows, we find substantial positive effects: using instrumental-variable estimates, each million dollars invested into a county yields approximately one new venture, 41 jobs, and seven million dollars in payroll. We also document positive spillovers across industries, particularly toward those supplying VC-backed ventures—thereby contributing to the resource munificence of the local economy and its entrepreneurial ecosystem |
0 |
0 |
7 |
38 |
2 |
11 |
42 |
92 |
| Wie groß ist der Einfluss von deutschen Wirtschaftsforschungsinstituten? Ein Ranking anhand von RePEc-Daten |
0 |
0 |
1 |
76 |
1 |
5 |
22 |
264 |
| Total Working Papers |
0 |
0 |
8 |
153 |
3 |
17 |
76 |
422 |
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