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Plant-Level Analysis Using The Ard: Another Look At Gibrat'S Law

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  • Richard Harris
  • Mary Trainor

Abstract

This study uses the Annual Respondents Database to test whether Gibrat's law of proportionate effect holds for the UK manufacturing industry during the period 1973-1998. For a sample of manufacturing industries, four different panel unit root tests were carried out to test the relationship between growth and size for three measures of size: gross output, employment and gross value added. The tests were applied to unbalanced plant-level panel data. The results show that there is strong evidence to reject Gibrat's law that firm growth is a random process in favour of the alternative proposition of mean reversion. Copyright (c) Scottish Economic Society 2005.

Suggested Citation

  • Richard Harris & Mary Trainor, 2005. "Plant-Level Analysis Using The Ard: Another Look At Gibrat'S Law," Scottish Journal of Political Economy, Scottish Economic Society, vol. 52(3), pages 492-518, July.
  • Handle: RePEc:bla:scotjp:v:52:y:2005:i:3:p:492-518
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    Cited by:

    1. Richard Harris, 2011. "Models Of Regional Growth: Past, Present And Future," Journal of Economic Surveys, Wiley Blackwell, vol. 25(5), pages 913-951, December.
    2. Giulio Cainelli & Massimiliano Mazzanti & Roberto Zoboli, 2013. "Environmental performance, manufacturing sectors and firm growth: structural factors and dynamic relationships," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 15(4), pages 367-387, October.
    3. Amara Mohamed, 2014. "Gibrat's Law and peer group effect: the case of Tunisian small manufacturing companies," Economics Bulletin, AccessEcon, vol. 34(1), pages 373-384.
    4. repec:bla:pacecr:v:22:y:2017:i:4:p:554-584 is not listed on IDEAS

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