Industry evolution in Varieties of Capitalism: a comparison of the Danish and US wind turbine industries
结合产业演化框架与资本主义多样性理论,通过1974-2014年丹麦和美国风力涡轮机制造商的生存分析,发现协调市场经济中新兴产业与既有产业联系更紧密,但主导设计的出现会影响结果。
Abstract In this study, we combine Klepper’s framework on the evolution of industries with the Varieties of Capitalism approach to argue that industry evolution is mediated by institutional differences. We expect that new industries will evolve with a stronger connection to established industries in coordinated marked economies than in liberal market economies. Our assumptions are supported by a survival analysis of USA and Danish wind turbine manufacturers from 1974 to 2014. Yet, the emergence of a dominant design biases the results.