Industry evolution and transition: a neoclassical benchmark
Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to grow. The thesis of this paper is that the process of star...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1997
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| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6005 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to grow. The thesis of this paper is that the process of starting new enterprises is turbulent and time-consuming and as a result, it takes time before the benefits of reform show up in increases in measured output and productivity. To establish a neoclassical benchmark for reforming economies, we ask what the path of transition looks like in a reforming economy for which the process governing the growth of new enterprises looks like it does in the U.S., a well-functioning market economy. We find that it takes 5-7 years until measured output and productivity begin to grow rapidly following reform. This finding suggests that, even if all other aspects of the economy are perfect, the transition following economy-wide reforms should take a substantial amount of time. |
| Beschreibung: | 30 S. graph. Darst. |
Internformat
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 6005 | |
| 520 | |a Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to grow. The thesis of this paper is that the process of starting new enterprises is turbulent and time-consuming and as a result, it takes time before the benefits of reform show up in increases in measured output and productivity. To establish a neoclassical benchmark for reforming economies, we ask what the path of transition looks like in a reforming economy for which the process governing the growth of new enterprises looks like it does in the U.S., a well-functioning market economy. We find that it takes 5-7 years until measured output and productivity begin to grow rapidly following reform. This finding suggests that, even if all other aspects of the economy are perfect, the transition following economy-wide reforms should take a substantial amount of time. | ||
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| 650 | 4 | |a Human capital |x Mathematical models | |
| 650 | 4 | |a Industrial policy |x Mathematical models | |
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| 650 | 4 | |a Technological innovations |x Mathematical models | |
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| id | DE-604.BV011687130 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:14:02Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007879766 |
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| physical | 30 S. graph. Darst. |
| publishDate | 1997 |
| publishDateSearch | 1997 |
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| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Atkeson, Andrew 1961- Verfasser (DE-588)128378166 aut Industry evolution and transition a neoclassical benchmark Andrew Atkeson ; Patrick Kehoe Cambridge, Mass. 1997 30 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6005 Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to grow. The thesis of this paper is that the process of starting new enterprises is turbulent and time-consuming and as a result, it takes time before the benefits of reform show up in increases in measured output and productivity. To establish a neoclassical benchmark for reforming economies, we ask what the path of transition looks like in a reforming economy for which the process governing the growth of new enterprises looks like it does in the U.S., a well-functioning market economy. We find that it takes 5-7 years until measured output and productivity begin to grow rapidly following reform. This finding suggests that, even if all other aspects of the economy are perfect, the transition following economy-wide reforms should take a substantial amount of time. Mathematisches Modell Human capital Mathematical models Industrial policy Mathematical models New business enterprises Mathematical models Technological innovations Mathematical models Kehoe, Patrick J. Verfasser (DE-588)124744540 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6005 (DE-604)BV002801238 6005 http://papers.nber.org/papers/w6005.pdf kostenfrei Volltext |
| spellingShingle | Atkeson, Andrew 1961- Kehoe, Patrick J. Industry evolution and transition a neoclassical benchmark National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Mathematisches Modell Human capital Mathematical models Industrial policy Mathematical models New business enterprises Mathematical models Technological innovations Mathematical models |
| title | Industry evolution and transition a neoclassical benchmark |
| title_auth | Industry evolution and transition a neoclassical benchmark |
| title_exact_search | Industry evolution and transition a neoclassical benchmark |
| title_full | Industry evolution and transition a neoclassical benchmark Andrew Atkeson ; Patrick Kehoe |
| title_fullStr | Industry evolution and transition a neoclassical benchmark Andrew Atkeson ; Patrick Kehoe |
| title_full_unstemmed | Industry evolution and transition a neoclassical benchmark Andrew Atkeson ; Patrick Kehoe |
| title_short | Industry evolution and transition |
| title_sort | industry evolution and transition a neoclassical benchmark |
| title_sub | a neoclassical benchmark |
| topic | Mathematisches Modell Human capital Mathematical models Industrial policy Mathematical models New business enterprises Mathematical models Technological innovations Mathematical models |
| topic_facet | Mathematisches Modell Human capital Mathematical models Industrial policy Mathematical models New business enterprises Mathematical models Technological innovations Mathematical models |
| url | http://papers.nber.org/papers/w6005.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT atkesonandrew industryevolutionandtransitionaneoclassicalbenchmark AT kehoepatrickj industryevolutionandtransitionaneoclassicalbenchmark |