Open AccessIndustry evolution in Varieties of Capitalism: a comparison of the Danish and US wind turbine industries
Author(s) -
Max-Peter Menzel,
Johannes Kammer
Publication year - 2019
Publication title -
industrial and corporate change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.511
H-Index - 110
eISSN - 1464-3650
pISSN - 0960-6491
DOI - 10.1093/icc/dtz022
Subject(s) - danish , capitalism , economics , economy , market economy , business , economic geography , political science , law , politics , linguistics , philosophy
In this study, we combine Kleppers 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 the survival analysis of US and Danish wind turbine manufacturers from 1974 to 2014.
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