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Small Nations, High Ambitions

Economic Nationalism and Venture Capital in Quebec and Scotland

X. Hubert Rioux

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Hardback

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English
University of Toronto Press
04 March 2020
Given the importance that entrepreneurship and start-up businesses in technology-intensive sectors like life sciences, renewable energy, artificial intelligence, financial technologies, software and others have come to assume in economic development, the access of entrepreneurs to appropriate levels of finance has become a major focus of policymakers in recent decades. Yet, this prominence has led to a variety of policy models across countries and even within countries, as different levels of government have adapted to new challenges by refining or transforming pre-existing institutions and crafting new policy tools. Small Nations, High Ambitions investigates the roots of such policy diversity at the ""subnational"" level, offering in-depth accounts of the evolution of Quebec's and Scotland's policy strategies in the entrepreneurial finance sector and venture capital more specifically.

As compared to other regions and provinces in the United Kingdom and Canada, Quebec and Scottish venture capital ecosystems rely on a high degree of state intervention, either direct (through public investment funds) or indirect (through government-backed, hybrid, or tax-advantaged funds). These two regions can thus be described as ""sponsor states,"" heavily involved in the strategic backing of innovative businesses. Whereas most of the literature on venture capital has focused on economic variables to explain variations in policy models, this book seeks to explain policy divergence in Quebec and Scotland through political and ideological lenses. Its main argument is that the development of venture capital ecosystems in these regions was underpinned by Qubcois and Scottish nationalisms, which induced preferences for policy asymmetry and state intervention.
By:  
Imprint:   University of Toronto Press
Country of Publication:   Canada
Dimensions:   Height: 234mm,  Width: 155mm,  Spine: 30mm
Weight:   540g
ISBN:   9781487505820
ISBN 10:   1487505825
Series:   Studies in Comparative Political Economy and Public Policy
Pages:   296
Publication Date:  
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active

At the time of writing, X. Hubert Rioux was a Banting Postdoctoral Fellow (2017-2019) at the École nationale d’administration publique (ÉNAP).

Reviews for Small Nations, High Ambitions: Economic Nationalism and Venture Capital in Quebec and Scotland

Small Nations, High Ambitions takes a comparative view of the under-studied phenomenon of economic nationalism. The increased visibility of this subject in the contemporary era makes this work especially timely and impressive. - Andre Lecours, School of Political Studies, University of Ottawa


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