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The Internal Organization of the Firm, Transaction Costs and Macroeconomic Growth

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  • Martimort, D.
  • Verdier, T.

Abstract

This paper proposes an analysis of the links between the internal organization of firms and macroeconomic growth. We present a Schumpeterian growth model in which firms face agency costs. These agency costs are due to the existence of asymmetries of information and the formation of internal vertical collusions. As a response to the opportunity of internal collusion optimal incentive contracts depend on the efficiency of collusive side contracting within organizations.

Suggested Citation

  • Martimort, D. & Verdier, T., 1999. "The Internal Organization of the Firm, Transaction Costs and Macroeconomic Growth," Papers 1999-08, Laval - Laboratoire Econometrie.
  • Handle: RePEc:fth:lavale:1999-08
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    Cited by:

    1. repec:eee:deveco:v:133:y:2018:i:c:p:187-200 is not listed on IDEAS
    2. David Martimort & Thierry Verdier, 2003. "From Inside The Firm to the Growth Process," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 621-629, 04/05.

    More about this item

    Keywords

    ECONOMIC GROWTH ; COSTS ; BUSINESS ORGANIZATION ; CONTRACTS;

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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