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Zur Mikrostruktur der Investitionsdynamik in der Industrie. Analysen mit Betriebspaneldaten aus Niedersachsen (1995 – 2002)

Author

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  • Joachim Wagner

Abstract

This paper uses panel data for manufacturing firms from Lower Saxony to shed light on the micro-structure of investment dynamics. It looks at seven two-year periods from 1995/96 to 2001/02. Important findings include: Many firms invest in one of two years only. However, the largest part of change in investment from year to year is due to firms which increase or decrease investment. Even in periods of pronounced increase (decrease) of investment in manufacturing as a whole there are many firms with decreasing (increasing) investment. Firms with increasing or decreasing investment coexist in every period in parts of manufacturing defined by product group, technology intensity, or size class. Even in periods of small net changes in investment at the macro level there are huge positive and negative gross changes at the micro level. There simply is no such thing as a representative firm – theoretical models should abandon this construct, and should model the behaviour of heterogeneous firms instead.

Suggested Citation

  • Joachim Wagner, 2005. "Zur Mikrostruktur der Investitionsdynamik in der Industrie. Analysen mit Betriebspaneldaten aus Niedersachsen (1995 – 2002)," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 125(4), pages 475-488.
    • Handle: RePEc:aeq:aeqsjb:v125_y2005_i4_q4_p475-488
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    Citations

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    Cited by:

    1. Tilmann Rave & Ursula Triebswetter, 2006. "Economic impacts of environmental regulations," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 30.
    2. Joachim Wagner, 2007. "Markteintritte, Marktaustritte und Produktivität Empirische Befunde zur Dynamik in der Industrie," AStA Wirtschafts- und Sozialstatistisches Archiv, Springer;Deutsche Statistische Gesellschaft - German Statistical Society, vol. 1(3), pages 193-203, December.
    3. Joachim Wagner, 2007. "Exporte und Produktivität in Industriebetrieben - Niedersachsen im interregionalen und internationalen Vergleich," Working Paper Series in Economics 68, University of Lüneburg, Institute of Economics.
    4. Joachim Wagner, 2005. "Exporte und Produktivität in mittelständischen Betrieben Befunde aus der niedersächsischen Industrie (1995 – 2004)," Working Paper Series in Economics 11, University of Lüneburg, Institute of Economics.

    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

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