On June 27-28, Bill Lazonick is running a conference on Financial Institutions for Innovation and Development at the Brazilian Development Bank in Rio de Janeiro:
The FIID project studies the types of financial institutions – in terms of their governance, organization, and operation – that support innovation at the level of the business enterprise, and the implications for stable and equitable growth at the level of the economy as a whole. By generating higher quality, lower cost products, innovation creates the possibility for growth in per capita incomes. That growth, however, may be unstable over time and inequitably distributed across the population. A prime challenge for policy-makers concerned with economic development is to structure financial institutions so that they support innovation in ways that contribute to stable and equitable growth.