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

Max-Peter Menzel () and Johannes Kammer ()
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Max-Peter Menzel: University Bayreuth, Postal: Germany
Johannes Kammer: University Hamburg, Postal: Germany

No 2017/9, Papers in Innovation Studies from Lund University, CIRCLE - Centre for Innovation Research

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)
Pages: 54 pages
Date: 2017-06-09
New Economics Papers: this item is included in nep-ene, nep-his, nep-hme, nep-pke and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:hhs:lucirc:2017_009

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