The process of technology diffusion is complex, and one should bear in mind that multiple both qualitative and quantitative elements may be claimed as its essential determinants. Insofar, voluminous theoretical and empirical literature has been issued where attempts of identification of the...

This publication identifies the requirements for successful reallocation of labor and capital to more efficient uses in response to the emergence of new sources of competition, technological change and shifting consumer preferences. At the same time, it focuses on limiting adjustment costs for...