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Industry Evolution in Varieties-of-Capitalism: a Survival Analysis on Wind Turbine Producers in Denmark and the USA

  • Max-Peter Menzel


  • Johannes Kammer

Klepper developed a theory that explains the evolution of industries purely by the inheritance of firm-specific factors. Institutional approaches argue that the evolution of industries differ according to their institutional environment. We prose an extension of the heritage theory to analyse institutionally induced differences in evolutionary patterns. In doing so, assumptions from the Varieties of Capitalism approach on firm performance in different institutional contexts are integrated into the heritage theory. Such a perspective would expect that institutional differences affect the connection of a new industry to established resources. We apply a survival analysis of wind turbine manufacturers in Denmark and the USA, which represent different types of capitalism. We find that the industries differ both in entry pattern and performance. Compared to the US, the Danish industry forms slower and firms benefit when they adhere to already established resources like diversifiers, while others like startups of spinoffs perform worse.

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Paper provided by Utrecht University, Section of Economic Geography in its series Papers in Evolutionary Economic Geography (PEEG) with number 1220.

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Length: 34 pages
Date of creation: Oct 2012
Date of revision: Oct 2012
Handle: RePEc:egu:wpaper:1220
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  1. Uwe Cantner & Holger Graf, 2004. "The Network of Innovators in Jena: An Application of Social Network Analysis," Jenaer Schriften zur Wirtschaftswissenschaft 04/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  2. Richard R. Nelson, 2002. "special issue: Bringing institutions into evolutionary growth theory," Journal of Evolutionary Economics, Springer, vol. 12(1), pages 17-28.
  3. Steven Klepper, 2010. "The Origin and Growth of Industry Clusters: The Making of Silicon Valley and Detroit," NBER Chapters, in: Cities and Entrepreneurship National Bureau of Economic Research, Inc.
  4. Taylor, Mark Zachary, 2004. "Empirical Evidence Against Varieties of Capitalism's Theory of Technological Innovation," International Organization, Cambridge University Press, vol. 58(03), pages 601-631, July.
  5. Philip Cooke, 2008. "Regional innovation systems: origin of the species," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 1(3), pages 393-409.
  6. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2006. "Firm survival in the German automobile industry," Empirica, Springer, vol. 33(1), pages 49-60, March.
  7. Peter Karn�e & Raghu Garud, 2012. "Path Creation: Co-creation of Heterogeneous Resources in the Emergence of the Danish Wind Turbine Cluster," European Planning Studies, Taylor & Francis Journals, vol. 20(5), pages 733-752, February.
  8. Ron A. Boschma & Rik Wenting, 2007. "The spatial evolution of the British automobile industry: Does location matter?," Industrial and Corporate Change, Oxford University Press, vol. 16(2), pages 213-238, April.
  9. S. Klepper & S. Sleeper, 2002. "Entry by Spinoffs," Papers on Economics and Evolution 2002-07, Philipps University Marburg, Department of Geography.
  10. Guido Buenstorf, 2007. "Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry," Review of Industrial Organization, Springer, vol. 30(3), pages 179-202, May.
  11. Akkermans, Dirk & Castaldi, Carolina & Los, Bart, 2009. "Do 'liberal market economies' really innovate more radically than 'coordinated market economies'?: Hall and Soskice reconsidered," Research Policy, Elsevier, vol. 38(1), pages 181-191, February.
  12. Steven Klepper, 2002. "The capabilities of new firms and the evolution of the US automobile industry," Industrial and Corporate Change, Oxford University Press, vol. 11(4), pages 645-666, August.
  13. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
  14. Mario Cleves & William W. Gould & Roberto G. Gutierrez & Yulia Marchenko, 2010. "An Introduction to Survival Analysis Using Stata," Stata Press books, StataCorp LP, edition 3, number saus3, November.
  15. Garud, Raghu & Karnoe, Peter, 2003. "Bricolage versus breakthrough: distributed and embedded agency in technology entrepreneurship," Research Policy, Elsevier, vol. 32(2), pages 277-300, February.
  16. Breschi, Stefano & Lissoni, Francesco & Malerba, Franco, 2003. "Knowledge-relatedness in firm technological diversification," Research Policy, Elsevier, vol. 32(1), pages 69-87, January.
  17. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
  18. Klepper, Steven, 2001. "Employee Startups in High-Tech Industries," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 639-74, September.
  19. Guido Buenstorf & Steven Klepper, 2009. "Heritage and Agglomeration: The Akron Tyre Cluster Revisited," Economic Journal, Royal Economic Society, vol. 119(537), pages 705-733, 04.
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