financing both kinds of projects. Thus good projects will cross-subsidize bad
ones and too much bad projects will be funded …-31.
Boadway, R. and Keen, M. (2005) Financing and taxing new firms under asymmetric
information. Unpublished manuscript …. Ministry of Trade and Industry (Finland)
Publications 5/2003.
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Hall, B. H. (2002) The financing of research and …