Impeded Industrial Restructuring: The Growth Penalty

David B. Audretsch, Martin Carree, André van Stel and Roy Thurik

No 26254, Discussion Paper Series from Hamburg Institute of International Economics

Abstract: 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 penalty in terms of forgone growth. Dieses Diskussionspapier dokumentiert einen Strukturwandel, der zur Transformation der Wirtschaften hochentwickelter Länder führt: Großunternehmen verlieren gegenüber den kleineren Firmen relativ an Gewicht. Dieser Strukturwandel erfolgt in den einzelnen Ländern in unterschiedlichem Maße. Sehr wenig ist über die Konsequenzen bekannt, die entstehen, wenn ein Land sich dem Strukturwandel verweigert. Ziel dieses Papiers ist eine Einschätzung möglicher Kosten, die durch Behinderung des Strukturwandels entstehen. Derartige Kosten werden gemessen, indem die Wachstumsrate der OECD-Länder den Abweichungen von einer "optimalen" Unternehmensstruktur gegenübergestellt werden. Die empirische Evidenz legt die Vermutung nahe, dass Länder, welche den Strukturwandel behindern, eine "Strafe" in Form von Wachstumseinbußen bezahlen.

Keywords: Industrial; Organization (search for similar items in EconPapers)
Pages: 26
Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Journal Article: Impeded Industrial Restructuring: The Growth Penalty (2002)
Working Paper: Impeded Industrial Restructuring: The Growth Penalty (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:hwwadp:26254

DOI: 10.22004/ag.econ.26254

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