Financing Innovation: An Historical Approach

The economic theory dedicates a large place to innovation. It is an inner essential part of market economy since its beginning. At the end of Middle-Age, in the north of Italy, in the North of the Continental Europe, then in Britain and France, men gave a constant succession of impulses to market economy. Through finding of new products and process, these impulses sustained the economic growth and sustain it now. Since the beginning, innovation was performed in agriculture as well as in industry and also in financial and accounting fields.