Industry Evolution in Varieties of Capitalism: a Comparison of the Danish and US Wind Turbine Industries

Max-Peter Menzel and Johannes Kammer

No 1716, Papers in Evolutionary Economic Geography (PEEG) from Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography

Abstract: In this study, we combine Klepper's framework on the evolution of industries with the Varieties of Capitalism approach to argue that industry evolution is mediated by institutional differences. We expect that new industries will evolve with a stronger connection to established industries in coordinated marked economies than in liberal market economies. Our assumptions are supported by the survival analysis of US and Danish wind turbine manufacturers from 1974 to 2014.

Keywords: industry evolution; varieties of capitalism; heritage theory; wind turbine industry; institutions (search for similar items in EconPapers)
JEL-codes: L64 O15 P51 (search for similar items in EconPapers)
Date: 2017-07, Revised 2017-07
New Economics Papers: this item is included in nep-ene, nep-hme, nep-pke and nep-tid
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:egu:wpaper:1716

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