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Impeded Industrial Restructuring: The Growth Penalty AgEcon
Audretsch, David B.; Carree, M.A.; van Stel, A.J.; Thurik, A.R..
This 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. Very 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 forgone growth, of an impeded restructuring process. The cost is measured by linking growth rates of OECD countries to deviations from the optimal industrial structure. The empirical evidence suggests that countries impeding the restructuring process pay a...
Tipo: Working or Discussion Paper Palavras-chave: Industry structure; Firm size distribution; Entrepreneurship; Economic growth; Industrial Organization; O11; L11.
Ano: 2000 URL: http://purl.umn.edu/26254
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Does Firm Size Matter? Evidence on the Impact of Liquidity Constraints of Firm Investment Behavior in Germany AgEcon
Audretsch, David B.; Elston, Julie Ann.
This paper examines the link between liquidity constraints and investment behavior for German firms of different sizes from 1970 to 1986. Results indicate that medium sized firms appear to be more liquidity constrained in their investment behavior than either the smallest or largest firms in the study, suggesting that the unique German infrastructure designed to assist the small firm has indeed succeeded in alleviating, to some degree, such liquidity constraints. Findings also support the hypothesis that the emerging competition and internationalism which characterized the German financial markets in the 1980's, have been improving access to capital for some groups of firms. Dieser Beitrag untersucht die Beziehung zwischen Liquiditätsbeschränkungen und...
Tipo: Working or Discussion Paper Palavras-chave: Financial Economics.
Ano: 2000 URL: http://purl.umn.edu/26306
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