Venture Capital State

Robyn Klingler-Vidra

Description

Silicon Valley has become shorthand for a globally acclaimed way to unleash the creative potential of venture capital, supporting innovation and creating jobs. In The Venture Capital State Robyn Klingler-Vidra traces how and why different states have adopted distinct versions of the Silicon Valley model.Venture capital seeks high rewards but is enveloped in high risk. The author's deep investigations of venture capital policymaking in East Asian states (Hong Kong, Taiwan, Singapore) show that success does not reflect policymakers' ability to replicate the Silicon Valley model. Instead, she argues, performance reflects their skill in adapting a highly lauded model to their local context. Policymakers are "contextually rational" in their learning; their context-rooted norms shape their preferences. The normative context for learning about policy-how elites see themselves and what they deem as locally appropriate-informs how they design their efforts.The Venture Capital State offers a novel conceptualization of rationality, bridging diametrically opposed versions of bounded and conventional rationality. This new understanding of rationality is simultaneously fully informed and context based, and it provides a framework by which analysts can bring domestic factors to the very heart of international diffusion of policy. Klingler-Vidra concludes that states have a visible hand in constituting even quintessentially neoliberal markets.

Sujets

• Finance
• Far East
• History of Asia
• Political economy
• Corporate finance
• East Asia
• Economie gestion

Informations

• Publié par: Cornell University Press
• Date de parution: 15 septembre 2018
• Nombre de lectures: 0
• EAN13: 9781501723384
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

The Venture Capital State

A voume în the serîes

Cornell Studies in Political Economy edîted by Peter J. Katzensteîn

A îst o tîtes în thîs serîes îs avaîabe at cornepress.corne.edu.

The Venture Capital State

The Silicon Valley Model in East Asia

Robyn KlinglerVidra

Corne Unîversîty Press ïthaca and London

Pubîcatîon o thîs book has been made possîbe by a generous grant rom the Chîang Chîng-kuo Foundatîon or ïnternatîona Schoary Exchange.

Copyrîght © 2018 by Corne Unîversîty

A rîghts reserved. Except or brîe quotatîons în a revîew, thîs book, or parts thereo, must not be reproduced în any orm wîthout permîssîon în wrîtîng rom the pubîsher. For înormatîon, address Corne Unîversîty Press, Sage House, 512 East State Street, ïthaca, New York 14850. Vîsît our websîte at cornepress.corne.edu.

Fîrst pubîshed 2018 by Corne Unîversîty Press

Prînted în the Unîted States o Amerîca

Lîbrary o Congress Cataogîng-în-Pubîcatîon Data Names: Kînger-Vîdra, Robyn, author. Tîte: The venture capîta state : the Sîîcon Vaey mode în East Asîa / Robyn Kînger-Vîdra. Descrîptîon: ïthaca : Corne Unîversîty Press, 2018. | Serîes: Corne studîes în poîtîca economy | ïncudes bîbîographîca reerences and îndex. ïdentîfiers: LCCN 2017052058 | ïSBN 9781501723377 (coth : ak. paper) | ïSBN 9781501723391 (epub/mobî) | ïSBN 9781501723384 (pd) Subjects: LCSH: Venture capîta—Government poîcy—East Asîa—Case studîes. | Capîta market—Government poîcy—East Asîa—Case studîes. | Technoogîca înnovatîons—Fînance— Government poîcy—East Asîa—Case studîes. | Dîfusîon o înnovatîons—East Asîa—Case studîes. | East Asîa—Economîc poîcy—Case studîes. Cassîficatîon: LCC HG4751. K573 2018 | DDC 332/.04154095—dc23 LC record avaîabe at https://ccn.oc.gov/2017052058

To Eze

List of Illustrations Acknowledgments Abbreviations

1. The Venture Capital State

2. Contextual Rationality

Contents

3. Venture Capital and VC Policy

4. Hong Kong: NightWatchman State

5. Taiwan: Private Sector Promoter

6. Singapore: Financier and Director

7. Analyzing Sources of Adaptation

8. The Future of Venture Capital States: Distinct Interventions to Build Markets

Notes List of Interviews References Index

ix xi xiii

1

1

4

7

8

63

78

9

3

109

132

153 163 165 187

Figures

Illustrations

1.1 State aunches o VC policy eForts (cumulative number 1957–2017) 2.1 Conventional rationality learning causal pathway 2.2 Bounded rationality learning causal pathway 2.3 Contextual rationality learning causal pathway 2.4 Contextual rationality’s VC policy learning causal pathway

Tables

2.1 Comparing rationalities 2.2 East Asian analytical narrative conceptualizations 3.1 Venture capital in the start-up unding lie cycle 4.1 Key dates in Hong Kong’s VC policies 5.1 Key dates in Taiwan’s VC policies 6.1 Key dates in Singapore’s VC policies 7.1 Comparing VC policies

4 25 28 32 34

31 42 50 74 89 105 111