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This discussion paper resulted in an article in the 'Journal of Industrial Economics' (2014). Volume 62, issue 3, pages 467-502.<P> Where markets are insufficiently competitive, governments can intervene by auctioninglicenses to operate or by forcing divestitures. The Dutch government has...</p>
Persistent link: https://www.econbiz.de/10011257439
time effects. All countries display a massive reallocation of resources, with the entry and exit of many firms in all … market contestability. There are also large differences across groups of countries. While entry and exit rates are fairly … similar across industrial countries, post entry performance differs markedly between Europe and the U.S., a potential …
Persistent link: https://www.econbiz.de/10005136875
Where markets are insufficiently competitive, governments can intervene by auctioning licenses to operate or by forcing divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for high- way gasoline stations and forcing the divestiture of...
Persistent link: https://www.econbiz.de/10005137121
time effects. All countries display a massive reallocation of resources, with the entry and exit of many firms in all … market contestability. There are also large differences across groups of countries. While entry and exit rates are fairly … similar across industrial countries, post entry performance differs markedly between Europe and the U.S., a potential …
Persistent link: https://www.econbiz.de/10011255936
Entry requires external finance, especially for less wealthy entrepreneurs, so poor investor protection limits … voters. In a broad cross-section of countries and industries, we find that (i) entry rates and the total number of producers … accountable political institutions have better investor protection and lower entry costs. We also find that investor protection is …
Persistent link: https://www.econbiz.de/10011256887
Using European data, this paper finds that (1) industry entry and exit rates are positively related to industry rates … of investment-specific technical change (ISTC); (2) the sensitivity of industry entry and exit rates to cross …-country differences in entry costs depends on industry rates of ISTC. The paper constructs a general equilibrium model in which the rate …
Persistent link: https://www.econbiz.de/10004997516
Entry requires external finance, especially for less wealthy entrepreneurs, so poor investor protection limits … voters. In a broad cross-section of countries and industries, we find that (i) entry rates and the total number of producers … accountable political institutions have better investor protection and lower entry costs. We also find that investor protection is …
Persistent link: https://www.econbiz.de/10005136893
We investigate the nature of market failure in a dynamic version of Akerlof (1970) where identical cohorts of a durable good enter the market over time. In the dynamic model, equilibria with qualitatively different properties emerge. Typically, in equilibria of the dynamic model, sellers with...
Persistent link: https://www.econbiz.de/10005137167
entry and financial development. In- cumbents seek a low level of effective investor protection to prevent potential … the higher rents earned with less competition. Entry and investor protection improve when wealth distribu- tion becomes … 38 countries we find that greater accountability is associated with higher entry in sectors that are more dependent on …
Persistent link: https://www.econbiz.de/10005137200
. Another important determining factor is the Herfindahl–Hirschman Index at the moment of entry: it is significantly easier to …
Persistent link: https://www.econbiz.de/10005137366