Author: David Law
Publisher:
ISBN:
Category : Firm behaviour
Languages : en
Pages : 31

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Author: David Law
Publisher:
ISBN:
Category : Firm behaviour
Languages : en
Pages : 0

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Author: Carlo Altomonte
Publisher: Cambridge University Press
ISBN: 1108489230
Category : Business & Economics
Languages : en
Pages : 243

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Book Description
Provides empirical evidence on how firm-level data can help governments strike the right policy balance and ultimately achieving higher aggregate productivity.

Author: Timothy Dunne
Publisher: University of Chicago Press
ISBN: 0226172570
Category : Business & Economics
Languages : en
Pages : 623

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Book Description
The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.

Author: Bernabe Lopez-Martin
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
The author constructs a quantitative framework to evaluate how financial constraints can reduce productivity growth at the firm level and result in lower aggregate productivity. The author considers a model where firms are able to invest in innovation in order to increase their productivity, or knowledge capital. This investment is a costly and uncertain enterprise. As the capacity to obtain external funds is diminished, resources allocated to this effort will be reduced due to different mechanisms at work. First, the return of this investment in the case of success may be diminished by the inability to quickly increase production capacity if the credit necessary to do so is scarce (i.e., if entrepreneurs cannot rent the optimal level of physical capital). Second, financial constraints reduce profits obtained by entrepreneurs and therefore the amount of assets they are able to accumulate in every period. Finally, financially underdeveloped economies will be characterized by a lower average ability of entrepreneurs. This is due to the lower equilibrium wage in the economy, which results in a larger mass of individuals opting to set up firms. In the margin, these individuals tend to have lower ability to manage a firm and relatively low prospects of generating firm productivity growth through innovation.

Author: Sanford Ikeda
Publisher: Routledge
ISBN: 1134878680
Category : Business & Economics
Languages : en
Pages : 311

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Book Description
Dynamics of the Mixed Economy applies the insights of modern Austrian political economy to examine economic policy in mixed economies. It compares and contrasts standard approaches to the growth of the state (including public choice) with that of modern Austrian political economy; examines in detail the nature and operation of the interventionist process in the context of nationalization, regulation and the welfare state; analyzes conditions that produce instability under laissez-faire capitalism; argues that the interventionist process is a 'spontaneous order'; and offers several 'pattern predictions' regarding the character and behaviour of really existing economies.

Author: Emili Grifell-Tatjé
Publisher: Oxford University Press
ISBN: 0190226730
Category : Business & Economics
Languages : en
Pages : 902

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Book Description
Productivity underpins business success and national well-being and thus it is crucial to understand the factors that influence productivity growth. This volume provides a comprehensive exploration into the significance of productivity growth for business, the economy, and for social economic progress. It examines how productivity is defined, measured and implemented. It also surveys the dispersion of productivity across time and place, focusing on the productivity dynamics that either leads to a reallocation of resources that reduces dispersion and increases aggregate productivity or, conversely, allows dispersion to persist behind barriers to productivity-enhancing reallocation. A third focus is an investigation of the drivers of, or impediments to, productivity growth, some of which are organizational in nature and under management control and others of which are institutional in nature and subject to public policy intervention. The Oxford Handbook of Productivity Analysis contains contributions of distinguished productivity experts from around the world who analyze a wide range of timely issues. These issues concern purely analytical topics surrounding the measurement of productivity in various situations, beginning with the ideal situation in which all inputs and all outputs, and their prices, are observed accurately. They also include service sectors such as education in which the services provided are hard to define, much less measure, and other sectors that generate undesirable environmental externalities that are difficult to price and complicate the very definition of productivity. The issues also involve business management topics ranging from the role of business models and benchmarking to the quality of management practices, the adoption of new technologies, and possible complementarities between the two. The relationship between productivity and business performance is also explored. At a more aggregate level the issues range from the impacts of market power, incentive regulation, international trade and global value chains on productivity, to the contribution of productivity to economic development and economic welfare.

Author: Ana Paula Cusolito
Publisher: World Bank Publications
ISBN: 1464813620
Category : Business & Economics
Languages : en
Pages : 352

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Book Description
Productivity has again moved to center stage in two critical academic and policy debates: the slowing of global growth amid spectacular technological advances, and developing countries’ frustratingly slow progress in catching up to the technological frontier. Productivity Revisited brings together the new conceptual advances of 'second-wave' productivity analysis that have revolutionized the study of productivity, calling much previous analysis into question while providing a new set of tools for approaching these debates. The book extends this analysis and, using unique data sets from multiple developing countries, grounds it in the developing-country context. It calls for rebalancing away from an exclusive focus on misallocation toward a greater focus on upgrading firms and facilitating the emergence of productive new establishments. Such an approach requires a supportive environment and various types of human capital--managerial, technical, and actuarial--necessary to cultivate new transformational firms. The book is the second volume of the World Bank Productivity Project, which seeks to bring frontier thinking on the measurement and determinants of productivity to global policy makers.

Author: Alexander-Nicholas Amundsen
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
"The unifying theme of this thesis is to understand the dynamics of firms in terms of their investments and productivity. In the first chapter, I explore how adjustment costs influence the investment dynamics of firms. This chapter is motivated by two unsettled issues in the literature: there is a discrepancy on the estimated sign of the interaction term between total capital and labour in the adjustment cost function, and that capital aggregation may severely bias the parameter estimates. I explicitly account for both issues by developing a firm structural model with labour and two types of heterogenous capital, and estimate the adjustment cost parameters. The main finding is that there are distinct complementarity/substitutability effects between the inputs in the adjustment cost function that are independent of the production function, and these effects lead to asymmetric outcomes when a fiscal policy subsidy is targeted towards each capital good.In the second chapter, we explore the productivity dynamics of firms. This chapter is motivated by the fact that simple Markov processes are widely used to model productivity in the literature, yet not much is known about how this process varies across firms, or over time, especially for the top 1% of productive firms. We leverage a comprehensive dataset that allows us to robustly estimate productivity across its distribution, even for the top 1%. Using new non-parametric methods, our main finding is that productivity deviates substantially from the ubiquitous AR(1), where it has fat tails, a heterogenous shock process and strong persistence. In the third chapter, we study the influence of financial constraints on investment dynamics. This chapter is motivated by two simultaneous trends that have been recorded in the literature: declining business dynamism and declining investment sensitivities. The chapter proposes that these two trends are linked, where declining business dynamism has led to an increase in the average age of firms, leading to a decrease in financial constraints, proxied by investment sensitivities. We measure the investment sensitivity for private domestic firms in both manufacturing and services and find that it is significant, suggesting that these firms are financially constrained as a group. Using a financial constraint index, our main finding is that these constraints have declined over time, of which we show that changes in age are the dominant driving factor"--

Author: Arti Grover Goswami
Publisher: World Bank Publications
ISBN: 1464813701
Category : Business & Economics
Languages : en
Pages : 230

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Book Description
Remarkably, a small fraction of firms account for most of the job and output creation in high-income and developing countries alike. Does this imply that the path to enabling more economic dynamism lies in selectively targeting high-potential firms? Or would pursuing broad-based reforms that minimize distortions be more effective? Inspired by these questions, this book presents new evidence on the incidence, characteristics, and drivers of high-growth firms based on in-depth studies of firm dynamics in Brazil, Côte d’Ivoire, Ethiopia, Hungary, India, Indonesia, Mexico, South Africa, Thailand, Tunisia, and Turkey. Its findings reveal that high-growth firms are not only powerful engines of job and output growth but also create positive spillovers for other businesses along the value chain. At the same time, the book debunks several myths about policies to support firm dynamism that focus on outward characteristics, such as firm size, sector, location, or past performance. Its findings show that most firms struggle to sustain rapid rates of expansion and that the relationship between high growth and productivity is often weak. Consequently, the book calls for a shift toward policies that improve the quality of firm growth by supporting innovation, managerial skills, and firms’ ability to leverage global linkages and agglomeration. To help policy makers structure policies that support firm growth, the book proposes a new ABC framework of growth entrepreneurship: improving Allocative efficiency, encouraging Business-to-business spillovers, and strengthening firm Capabilities. This book is the third volume of the World Bank Productivity Project, which seeks to bring frontier thinking on the measurement and determinants of productivity to global policy makers. 'Policy makers often get carried away by the disproportionate contributions of high-growth firms to job and output growth and commit to pursuing policies targeting the potential ‘stars.’ This book separates fact from fiction underpinning such interventions through a comprehensive analysis of high-growth firms across a range of developing countries, making a compelling argument that public policy to pick prospective winners is neither possible nor desirable. Policy makers would be wise to consult its arguments and policy advice when designing the next generation of policies to support the growth of firms.' William R. Kerr Professor of Business Administration, Harvard University; author of The Gift of Global Talent: How Migration Shapes Business, Economy and Society 'How to ignite and sustain high firm growth has eluded both economic analysis and thought leaders in policy and business. Through its meticulous and thoughtful analysis, this important new book provides a tractable framework to guide policy to harness the growth and productivity potential of firms in the developing-country context.' David Audretsch Distinguished Professor and Director of the Institute for Development Strategies, Indiana University .