Brata, Aloysius Gunadi; Groot, Henri L. F. de; Zant, Wouter - In: Economies : open access journal 6 (2018) 2, pp. 1-14
The survival of firms under changes in the business environment caused by exogenous shocks can be explained using economic Darwinism. Exogenous shocks can cause ‘cleansing effects’. Shocks clean out unproductive firms so that available resources are allocated to the remaining more productive...