This discussion paper resulted in a publication in 'Industrial and Corporate Change' (2010). Volume 19, issue 4, pages 1109-1139.<P> Entrepreneurs exit their business due to selection mechanisms experienced in the market place. Next to this well known ex-post decision to exit, entrepreneurs select...</p>

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 are accounting for a greatershare of economic activity. Not all countries, however, are experiencing...