Regional and sector-specific determinants of industry dynamics and the displacement effect
AbstractIn this paper we analyze the regional and sector-specific determinants of industry dynamics. Concretely, we empirically tested three hypotheses (originally proposed by Shapiro and Khemani 1987) for the relationship between the entry and exit of firms in Spanish regions and sectors. The simplest one claims that entries and exits are independent. The symmetry and simultaneity hypotheses, on the other hand, take the opposite view. The symmetry hypothesis claims that barriers to entry are also barriers to exit, while the simultaneity hypothesis claims that there is a close relationship between entry and exit. Our estimates from a panel data system of equations seem to confirm the simultaneity hypothesis for Spain during the period 1980 to 1994.
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Bibliographic InfoPaper provided by FEDEA in its series Studies on the Spanish Economy with number 219.
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-04-29 (All new papers)
- NEP-COM-2006-04-29 (Industrial Competition)
- NEP-ENT-2006-04-29 (Entrepreneurship)
- NEP-GEO-2006-04-29 (Economic Geography)
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