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The Long-Term Effects of Industrial Policy

Choi, Jaedo; Levchenko, Andrei A. - National Bureau of Economic Research - 2021

This paper provides causal evidence of the impact of industrial policy on firms' long-term performance and quantifies industrial policy's long-term welfare effects. Using a natural experiment and unique historical data during the Heavy and Chemical Industry (HCI) Drive in South Korea, we find...

Persistent link: https://www.econbiz.de/10012629483

Large Banks and Small Firm Lending

Bord, Vitaly M. - 2018

We show that since 2007, there was a large and persistent shift in the composition of lenders to small firms. Large banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U.S.. However, healthy banks expanded their operations...

Persistent link: https://www.econbiz.de/10012480836

Who Creates Jobs? Small vs. Large vs. Young

Haltiwanger, John C. - 2010

The view that small businesses create the most jobs remains appealing to policymakers and small business advocates. Using data from the Census Bureau Business Dynamics Statistics and Longitudinal Business Database, we explore the many issues at the core of this ongoing debate. We find that the...

Persistent link: https://www.econbiz.de/10012462359

Bank Size and Lending Relationships in Japan

Uchida, Hirofumi - 2007

Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using U.S. data that smaller SMEs borrow from smaller banks and smaller banks...

Persistent link: https://www.econbiz.de/10012465650

Small Business and Job Creation : Dissecting the Myth and Reassessing theFacts

Davis, Steven J. - 1993

This paper investigates how job creation and destruction behavior varies by employer size in the U.S. manufacturing sector during the period 1972 to 1988. The paper also evaluates the empirical basis for conventional claims about the job-creating prowess of small businesses. The chief findings...

Persistent link: https://www.econbiz.de/10012474453

Monetary Policy, Business Cycles and the Behavior of Small Manufacturing Firms

Gertler, Mark - 1991

We present evidence on the cyclical behavior of small versus large manufacturing firms, and on the response of the two classes of firms to monetary policy. Our goal is to take a step toward quantifying the role of credit market imperfections in the business cycle and in the monetary transmission...

Persistent link: https://www.econbiz.de/10012475095

Firm Size Distortions and the Productivity Distribution : Evidence from France

Garicano, Luis - 2013

We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies this to France where many labor laws start to bind on firms with exactly 50 or more employees....

Persistent link: https://www.econbiz.de/10012459820

Wage-Setting Institutions as Industrial Policy

Davis, Steven J. - 2000

centralized wage setting on the industry distribution of employment. We examine Sweden's industry distribution from 1960 to 1994 … identify the rise and fall of centralized wage-setting arrangements as a major factor in the evolution of Sweden's industry … accounted for about 40 percent of U.S.-Swedish differences in the industry distribution. The dissolution of Sweden's centralized …

Persistent link: https://www.econbiz.de/10012471274

Growth Through Heterogeneous Innovations

Akcigit, Ufuk - 2010

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

Persistent link: https://www.econbiz.de/10012462146

Clusters of Entrepreneurship

Glaeser, Edward L. - 2009

Employment growth is strongly predicted by smaller average establishment size, both across cities and across industries within cities, but there is little consensus on why this relationship exists. Traditional economic explanations emphasize factors that reduce entry costs or raise...

Persistent link: https://www.econbiz.de/10012463273

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