Autori
Pagano, Patrizio
Schivardi, Fabiano

Titolo
Firm Size Distribution and Growth
Periodico
Banca d'Italia. Temi di discussione
Anno: 2001 - Volume: 2 - Fascicolo: 394 - Pagina iniziale: 1

We empirically characterize the sectoral distribution of ¿rm size for a set of European countries, ¿nding substantial differences. We then study the relationship between productivity growth at the sectoral level and size structure. We ¿nd a positive and robust association between average ¿rm size and growth. Asking why size should matter for growth, we consider the role of innovative activity, to construct a test based on the differential effect of size on growth according to various indicators of R&D intensity at the sectoral level. Our results indicate that larger size fosters productivity growth because it allows ¿rms to take advantage of all the increasing returns associated with R&D. We ¿nally argue that our test can be interpreted as a test of reverse causality, which lends support to the viewof ¿rmsize having a causal impact on growth.



Testo completo: http://www.bancaditalia.it/pubblicazioni/temidi/td394/tema_394.pdf

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