Impeded Industrial Restructuring: The Growth Penalty

摘要: This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms greater share activity. Not all countries, however, experiencing same shift in their structures. Little is known about cost resisting this process. The goal to identify whether there cost, measured terms forgone growth, an impeded by linking growth rates European countries deviations from "optimal" structure. empirical evidence suggests impeding pay penalty growth.