Evolutionary theories of economic change identify the processes of idiosyncratic learningby individual firms and of market selection as the two main drivers of the dynamics of industries. Are such processes able to robustly account for the statistical regularities which industrial structures and...

The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...

The hypothesis underlined in this paper is that apart from infant mortality there is another relevant phenomenon taking place within new-born Small Business Enterprises (SBEs) in the period immediately after entry; namely that the smaller ones among them, having entered with a marked sub-optimal...

This paper is intended to provide an updated discussion on a series of issues that the relevant literature suggests to be crucial in dealing with the challenges a middle income country may encounter in its attempts to further catch-up a higher income status. In particular, the conventional...

This paper investigates, both theoretically and empirically, the implications that complementary assets needed for the formation of start-ups -proxied by the ease of access to financial resources- have on the innovative efforts of incumbent firms. In particular, we develop a theoretical model,...