Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2002
pursue an investment-based strategy, with long-term relationships, high average size and age of firms, large average … short-term relationships, younger firms, less investment and better selection of managers. We show that relatively backward … economies may switch out of the investment-based strategy too soon, so certain economic institutions and policies, such as …
