Effect of private and public investment in R&D on innovation in Mexico’s biotechnology firms

Purpose In light of the controversy between the theoretical importance of financing biotechnology firms’ research and development (R&D), and the firms’ contradictory and ambivalent empirical results, this paper aims to contribute to the debate by providing empirical evidence from Mexico’s case. Design/methodology/approach The authors use the probit model to determine if firms’ achievements in innovations are related to both private and public financing, and if so, to calculate their marginal effect on the firms’ innovation (n = 40 from 53 firms: 75.5% response). The survey was applied in 2015. Findings Although a large proportion of the firms innovate and dedicate resources to R&D activities, neither private financing (different from the R&D portion of sales) nor public financing has an impact on innovation activity. Research limitations/implications It is necessary to increase the number of studies that corroborate the type of link established between innovations in biotechnology firms and financing. Analyzing the financing/innovation links at various stages of the innovation process would also be relevant. Originality/value The research results support the perspective that the theoretical relationship between the financing and achievements of innovation is not conclusive and point to relevant considerations for the public policy agenda of the case study.

Regional Outlook

The regional outlook for Ireland and the United Kingdom, both liberal market economies characterized by a limited role for the state, presents a brief comparative assessment of the historical development of their healthcare systems, health politics, and selected health-related indicators. The two are quite different in terms of health financing, with the UK’s health system relying on substantially larger tax expenditures and less private financing. Reported unmet need in the UK is therefore largely attributed to waiting times, whereas in Ireland it is mainly due to cost. Notably, reported unmet need is higher in both than it was in 2005. Since at least 2002, healthcare has tended to be a salient political issue in both Ireland and the UK.

A Study on Non Conventional Financing with Special Reference to ‘P2P Lending’ and its Growth during Covid-19 Pandemic in India

The new financial face imploded after the collapse of the so longed conventional system in 2008 after demonetisation, and following covid-19 pandemic, India witnessed a millions of extraordinary debt bearing borrower in all sectors. The instable stock markets, bond prices and devaluation of domestic currency popularized the term dis-intermediation and prompted more investors to turn to a cashless financial system and non-conventional sources funding. With the gradual growth of global market Indian potential investors and borrowers face some financial challenges and this is where these digitalisation and green banking system became an inevitable technology which enabling them to operate more efficiently and at cost advantage than the traditional banking system. Several online portals have sprung up in India to facilitate such lending, especially after demonetisation and some even getting private financing and investments from investors, even it isis still at an emerging stage comparing with US and China. RBI brought a discussion paper on P2P lending in April 2016, it points that there were 30 such start-ups have emerged in the country. After that it have been proceeded as a fast-growing sector and came out with some regulations in October 2017 and this study aims to analyse the mode and operations of the non-conventional lending P2P system and its initial growth during pandemic period.

ECO-INNOVATION FINANCING AS AN ELEMENT OF A “GREEN” ECONOMY FORMATION IN THE GLOBALIZATION CONDITIONS OF SUSTAINABLE DEVELOPMENT

The purpose of the paper is to substantiate the necessity for eco-innovation supporting and provide the scientific and practical recommendations for improving eco-innovation public and private financing in the globalizing conditions of sustainable development. Methodology. In the paper, eco-innovations are considered as new technologies, new ways of organizing production and social programs that ensure the movement of society in line with the principles of the theory of sustainable development and the interaction between economic development and environmental preservation, to a greater extent due to the production of additional interrelated internal and external effects.The survey is based on the modern methods of scientific research, in particular, general and special methods of analysis of economic phenomena and processes: historical-logical method; comparative analysis; structural-comparative and graphic analysis; structural-factor analysis (to analyze the impact of environmental factors on economic development and determine the relationship between environmental indices, individual factors and GDP growth rates); correlation-regression analysis (to model the impact of environmental factors on the economic development of the world); scenario approach (to substantiate the priority areas of development of greening of the global economic space); methods of logical analysis, abstract and cognitive modeling. The results of the survey showed that along with the existing problems, there is significant potential for green financing scaling up. The study identified problems that limit the development of eco-innovation financing, which include both problems typical for “green” projects (for example, the lack of a clear definition of the term “green”), and problems typical for the financial sector as a whole (for example, underdeveloped capital markets or discrepancy in financing terms). Scientific and practical recommendations for capital attraction stimulating and the development of eco-innovation financing in the context of world economy sustainable development are proposed. It is substantiated that the main condition for the mobilization of “green” investments from the private sector is a combination of public funding, regulation and participation of private market actors in an effective public-private partnership. Practical implications. The analysis of the peculiarities of the eco-innovation financing allows to determine the impact of public financial instruments on the acceleration and increase of the effect from private financing for “green” investment. The main advantages of introducing and tracking eco-innovations in the global economic system are identified. The conclusion is made about the positive impact of the use of environmental and energy efficient technologies on the level of economic development, investment attractiveness and competitiveness of the country. Value/originality. The provided theoretical bases and practical recommendations consider current trends and conditions for sustainable development of the developed and developing countries economies, may be used by the governments of countries to develop policies towards effective environmental natural resources use and formate an environmental management system in the global economic development greening process, and are the basis for the formation of an ecological and economic model of the country’s development.

Finance and Structural Change

This chapter emphasizes two crucial links between finance and structural change. The first is a direct contribution with finance supporting innovative sectors through long-term funding. The chapter highlights the role of development banks, multilateral, but especially national ones, which should place structural transformation at the centre of their activities. The second link emphasized involves avoiding the risks associated with boom–bust cycles in external as well as domestic private financing. The proper use of capital account regulations as one of the instruments of macroeconomic policies in open economies is essential, particularly in emerging and developing countries. At the domestic level, avoiding unsustainable credit booms, and managing the maturity and currency mismatches in portfolios, are also emphasized.

Audit as Accountability: Technical Authority and Expertise in the Governance of Private Financing for Development

The paper examines the emergence of a new landscape of international development finance that is blurring traditional boundaries between public and private resources for meeting the Sustainable Development Goals (SDGs) and other global public goods (GPGs). In the SDG financing ecosystem, private actors are no longer passive bystanders in the development process but as active contributors to and investors in development projects and programmes. The paper argues that the emerging ‘private turn’ in the architecture of development finance represents a technology of governance that is rooted in the assemblage of international development policy and practice. This regime constitutes an emerging complex and often problematic framework of organising and managing countries’ access to external finance and establishing their terms of engagement with the broader global economy.

Financing the Water and Sanitation Sectors: A Hybrid Literature Review

To ensure the sustainable development of the water and wastewater (WSS) sectors, new and more investments are needed. However, private financing in these sectors has not been successfully leveraged. This study conducted a systematic literature review of peer-reviewed papers in this field, to provide an overview of how researchers have been studying the financing endeavors of the WSS sectors. A three-part framework was carried out: retrieval of papers from search engines (Scopus and ASCE Library), focused on the title, abstract, and keywords; process of elimination of papers; and analysis of the selected papers based on the hybrid method combining a systematic quantitative review, a semantic network analysis, and a narrative analysis. This research resulted in the identification of four most studied areas: sustainable development; water management and public finance; project financing; and public policy. Future research should focus on existing financing instruments and how these can specifically be applied in the WSS sectors successfully. This paper makes several contributions to the literature because it addresses and emphasizes the most important financing issues in WSS, reviews the insights found, and discusses the future research needs. In addition, it demonstrates the benefits of using a hybrid methodology that could be adopted in other literature review studies.