Why Public Debt Hurts Innovation (VIDEO) Bocconi University This video is under embargo. Please login to access this video. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Caption New research by Bocconi's Mariano Max Croce and colleagues finds that public debt is bad for growth also because it hinders innovative firms' investment. «By affecting their cost of capital, movements in government debt impact firms' investment and, critically, innovation decisions», Max Croce, Professor of Finance at Bocconi University, says. Credit Bocconi University and VAS Usage Restrictions Only for journalistic purposes License Licensed content Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.