Impeded Industrial Restructuring: The Growth Penalty
AbstractThis paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greater share of economic activity. Not all countries, however, are experiencing the same shift in their industrial structures. Little is known about the cost of resisting this restructuring process. The goal of this paper is to identify whether there is a cost, measured in terms of foregone growth, of an impeded restructuring process. The cost is measured by linking growth rates of European countries to deviations from the "optimal" industrial structure. The empirical evidence suggests that countries impeding the restructuring process pay a penalty in terms of foregone growth. Copyright 2002 by WWZ and Helbing & Lichtenhahn Verlag AG
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Kyklos.
Volume (Year): 55 (2002)
Issue (Month): 1 ()
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962
Other versions of this item:
- Audretsch, David B. & Carree, Martin A. & Stel, Adriaan J. van & Thurik, A. Roy, 2002. "Impeded industrial restructuring: the growth penalty," Open Access publications from Maastricht University urn:nbn:nl:ui:27-3890, Maastricht University.
- Audretsch, David B & Thurik, A R Roy, 2000. "Impeded Industrial Restructuring: The Growth Penalty," CEPR Discussion Papers 2648, C.E.P.R. Discussion Papers.
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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