Review Essay: Public Policy and the Creation of Active Venture Capital Markets and Some Comments on 'Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed – and What to Do About It,' by Josh Lerner

Venture Capital: An International Journal of Entrepreneurial Finance, Forthcoming

30 Pages Posted: 5 Sep 2010

Date Written: April 4, 2010

Abstract

In this review I could have focused on all of the excellent things in this work. But that would take too long, and the job of a reviewer is not to excessively praise but instead highlight areas of concern with the aim of full and correct dissemination of knowledge on a topic.

I show conclusions in this work are based on methodologies that rank the Austrian and Hungarian venture capital markets as being the best in the Europe and the U.K. venture capital market as being the worst in Europe (I am not kidding). Inferences drawn are not robust to more reasonable rankings. Further, I point out a number of other significant misstatements and omissions.

Keywords: Public Policy, Venture Capital

JEL Classification: G24, G28, G33, G38

Suggested Citation

Cumming, Douglas J., Review Essay: Public Policy and the Creation of Active Venture Capital Markets and Some Comments on 'Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed – and What to Do About It,' by Josh Lerner (April 4, 2010). Venture Capital: An International Journal of Entrepreneurial Finance, Forthcoming, Available at SSRN: https://ssrn.com/abstract=1672048

Douglas J. Cumming (Contact Author)

Florida Atlantic University ( email )

777 Glades Rd
Boca Raton, FL 33431
United States

HOME PAGE: http://booksite.elsevier.com/9780124095373/

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