broad policy lesson is that governments should think globally. They must compete to attract foreign scientists and entrepreneurs by handing out visas liberally. They should embrace internationally accepted tax provisions and legal forms with which foreign venture capitalists feel comfortable. They should encourage young companies to list on foreign stock markets if domestic ones are underdeveloped. They should not privilege their own firms at the expense of open global competition. The more a country can link itself to other economies, the greater the incentive for venture capitalists to scout
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