Impediments to the Schumpeterian Process in the Replacement of Large Firms
利用涵盖75个国家、始于1910年的新数据，研究政治关联如何阻碍熊彼特创造性破坏过程中大型企业的更替，并指出政治关联与准入限制结合会延缓经济发展。
ABSTRACT We use newly assembled data overall encompassing up to 75 countries and starting circa 1910, to study impediments to the Schumpeterian process of creative destruction as it “proceeds by competitively destroying old businesses.” Political connections appear to represent an obstacle to the destructive part of the Schumpeterian process in the replacement of large firms. When accompanied by regulations that restrict entry, political connections can play a role in allowing large firms to remain large. When connected to Fogel, Morck, and Yeung (2008, Journal of Financial Economics 89, 83–108), the results imply that political connections, combined with barriers to entry, can retard economic development.