This article suggests how state enterprises can be incorporated into the theoretical and empirical growth literature. Specifically, it shows that if state enterprises are less efficient than private firms, invest less, employ less skilled labor, and are less eager to adopt new technology, then a...

This paper introduces state-owned enterprises into an endogenous-growth model with an expanding variety of inputs. It shows that, if state firms are less efficient than private firms in organizing labor and also in adopting new technology, the rate of innovation and, hence, also the rate of...

The Turkish economy has gone through a fast and strong change in recent years. Three dimensions are of special significance: 1. Firstly, the Turkish economy has grown very quickly, with three severe recessions in 1994, 2000/1 and 2009. 2. Secondly, it has opened up rapidly but is still not that...

We study the variability of business growth rates in the U.S. private sector from 1976 onwards. To carry out our study, we exploit the recently developed Longitudinal Business Database (LBD), which contains annual observations on employment and payroll for all U.S. businesses. Our central...

Drawing notably on the experience of France, this book examines whether good corporate governance generates national growth. It finds that it is a society's entire governance culture -- corporate and public governance together rather than either of them alone -- is what matters. The book shows...