This paper analyzes the effects of new business formation on industry growth. Dynamic panel techniques are used to test two hypotheses. First, does hit-andrun competition secure efficiency in an industry? Second, do innovative startups lead to amplified innovations by diminishing the knowledge...

The paper develops a growth model with evolutionary microfounded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the...

We test the industry life cycle hypothesis for 205 industries in West Germany between 1976 and 2009. In particular we analyse whether population indicators follow a cyclical path. Using a novel non-linear regression approach to identify life cycles we find that the number of establishments,...

Die Digitalisierung ist in aller Hände. Das Smartphone hat in den vergangenen neun Jahren die private Lebensführung gewaltig verändert. Jederzeit und überall sind wir vernetzt, wir haben in Echtzeit Entscheidungsoptionen und Steuerungsmöglichkeiten. Die dahinter stehenden Hersteller der...

Digitalisation is in everyone's hands. During the last nine years the smartphone tremendously changed private lifestyle. Anytime and everywhere we are connected, we have options for decision making and controlling in real-time. Producer of hardware as well as software service provider of...

The idea of an industrial policy that promotes large businesses - heavyweights - as the best way to compete in a globalized world has become, again, en vogue among European politicians. The only apparent controversy about the idea revolves around whether it is better to promote national...

We describe Germany's rise as an industrial power in the late 19th century through radical innovation and entrepreneurship, and contrast this with the post-World War II period. This latter period, although it contained the German economic miracle, was nevertheless a period during which...

Artificial Intelligence (AI) represents a set of techniques that enable new ways of innovation and allows firms to offer new features of products and services, to improve production, marketing and administration processes, and to introduce new business models. This paper analyses the extent to...

University research provides valuable inputs to industrial innovation. It is therefore not surprising that private sector firms increasingly seek direct access through funding public R&D. This development, however, spurred concerns about possible negative long-run effects on scientific...