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Persistance and change in coordinated market economies: the case of venture capital for biotechnology in Switzerland
[working paper]
Corporate Editor
Universität Luzern, Kultur- und Sozialwissenschaftliche Fakultät, Soziologisches Seminar
Abstract "The institutional configuration of Switzerland resembles the ideal type of coordinated market economies (CMEs) which are said to be highly supportive for incremental innovations but not for radical innovations like biotechnology. Therefore, the emergence and success of Swiss biotechnology comes as ... view more
"The institutional configuration of Switzerland resembles the ideal type of coordinated market economies (CMEs) which are said to be highly supportive for incremental innovations but not for radical innovations like biotechnology. Therefore, the emergence and success of Swiss biotechnology comes as a surprise. Against this background, our paper deals with the biotechnology sector in Switzerland. Special attention will be drawn on venture capital. It can be shown that Switzerland has formed a specific variant of venture capital which nicely has adapted to its institutional context. The case thus indicates that technological innovations have the effect that some elements of LMEs can be incorporated into CMEs. However, this occurs incrementally and in accordance with the overall institutional configuration." (author's abstract)... view less
Keywords
institutional factors; Switzerland; technical development; coordination; innovation; market economy; biotechnology; economic system; venture capital
Classification
Natural Science and Engineering, Applied Sciences
Economic Policy
Document language
English
Publication Year
2009
City
Luzern
Page/Pages
28 p.
Series
Workingpaper des Soziologischen Seminars, 03/2009
ISSN
1663-2540
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne