Please use this identifier to cite or link to this item: https://repository.iimb.ac.in/handle/2074/10506
Title: Developmental financial institutions as technology policy instruments: implications for innovation and entrepreneurship in emerging economies
Authors: George, Gerard 
Prabhu, Ganesh N 
Keywords: Technology policy;Entrepreneurship;Innovation;Absorptive capacity;Emerging economies
Issue Date: 2003
Abstract: Developmental financial institutions (DFIs) in emerging economies regularly assess new technology platforms to support their investments in new ventures, established firms, and technology institutions (TIs). Their financing decisions are guided by national priorities such as achieving technological self-reliance. By providing attractive financing options and related support, DFIs are well placed to consciously channel finance into designated priority technology areas. To better understand DFI roles, we conducted multiple interviews with participants affiliated with DFIs, firms and TIs in India. From data gathered from these interviews and secondary data on DFIs in emerging economies, we develop a preliminary framework to suggest that DFIs, when proactive in making technology assessments, form an important link between developing a firm’s absorptive capacity and building a nation’s innovative capacity. Also, DFI financing facilitates new venture creation in the context of underdeveloped capital markets prevalent in emerging economies. To illustrate these roles, we consider technology support programs of DFIs in India and their role in the information technology (IT) industry.
URI: http://repository.iimb.ac.in/handle/2074/10506
DOI: 10.1016/S0048-7333(02)00002-1
Appears in Collections:2000-2009

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