Innovation is considered to be an important determinant of performance at the firm, indus-try and country level. This view is supported by empirical evidence showing the importance of innovative activities on firm and industry performance and country growth rates. The majority of the world’s...

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...