Financing technology poses a special challenge to economic institutions for several reasons. First, the uncertainty surrounding all the investment decisions is particularly acute and pervasive in the case of R&D, as well as developing and testing process and product innovation. Second, while the...

In order to investigate the effectiveness of science and technology industrial parks (STIPs), this study examines data on high-tech firms within and outside the STIPs in China, while paying special attention to the issues related to agglomeration and congestion. The main finding is that the...

In 1973, the Korean government initiated a plan to establish a major high-technology research complex, called Daeduck Science Park (DSP). The Ministry of Science and Technology (MST) designated 27 square kilometers of land in Taejon, a city of 1.3 million people (1999) for the creation of the...